Unusual Machines, Inc. (NYSEAMERICAN:UMAC) Receives Consensus Rating of “Buy” from Brokerages

Shares of Unusual Machines, Inc. (NYSEAMERICAN:UMAC) have earned a consensus rating of “Buy” from the six ratings firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $34.80.

UMAC has been the subject of a number of recent research reports. HC Wainwright initiated coverage on Unusual Machines in a research note on Wednesday, July 15th. They set a “buy” rating and a $42.00 price target for the company. Needham & Company LLC raised their price objective on shares of Unusual Machines from $22.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. National Bank Financial set a $42.00 target price on shares of Unusual Machines in a research report on Wednesday, July 15th. Finally, Roth Capital boosted their target price on shares of Unusual Machines to $40.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd.

Unusual Machines Price Performance

UMAC stock opened at $19.53 on Wednesday. The company has a market cap of $933.34 million, a P/E ratio of -46.50 and a beta of 14.84. Unusual Machines has a 1 year low of $7.24 and a 1 year high of $34.36. The stock’s fifty day moving average price is $21.42 and its 200-day moving average price is $17.19.

Unusual Machines (NYSEAMERICAN:UMAC) last posted its quarterly earnings data on Thursday, May 14th. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.15). Unusual Machines had a negative net margin of 32.71% and a negative return on equity of 11.83%. The firm had revenue of $8.10 million for the quarter, compared to analysts’ expectations of $5.54 million. As a group, analysts expect that Unusual Machines will post -0.72 earnings per share for the current year.

Insider Transactions at Unusual Machines

In other news, Director Jeffrey M. Thompson sold 15,000 shares of Unusual Machines stock in a transaction on Friday, June 5th. The shares were sold at an average price of $26.96, for a total transaction of $404,400.00. Following the transaction, the director owned 4,794,392 shares in the company, valued at $129,256,808.32. This trade represents a 0.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Brian Joseph Hoff sold 150,000 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $17.71, for a total value of $2,656,500.00. Following the completion of the sale, the chief financial officer owned 352,650 shares of the company’s stock, valued at $6,245,431.50. This trade represents a 29.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 280,000 shares of company stock worth $6,477,200 in the last 90 days. 7.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. BlueCrest Capital Management Ltd purchased a new stake in Unusual Machines in the 3rd quarter worth approximately $2,168,000. Tudor Investment Corp ET AL lifted its holdings in Unusual Machines by 201.0% during the third quarter. Tudor Investment Corp ET AL now owns 1,207,460 shares of the company’s stock valued at $18,233,000 after purchasing an additional 806,359 shares in the last quarter. FNY Investment Advisers LLC boosted its position in shares of Unusual Machines by 293.4% in the fourth quarter. FNY Investment Advisers LLC now owns 120,001 shares of the company’s stock worth $1,528,000 after purchasing an additional 89,500 shares during the period. Moody National Bank Trust Division bought a new position in shares of Unusual Machines in the fourth quarter worth approximately $549,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Unusual Machines in the fourth quarter worth $1,776,000.

About Unusual Machines

Unusual Machines, Inc designs, manufactures, and sells ultra-low latency video goggles for drone pilots. It operates a drone-focused e-commerce marketplace. The company serves drone pilots, hobbyists, and recreational services. The company was formerly known as AerocarveUS Corporation and changed its name to Unusual Machines, Inc in July 2022. Unusual Machines, Inc was incorporated in 2019 and is based in Orlando, Florida.