Unusual Machines (NYSEAMERICAN:UMAC) Trading Up 13.4% – Should You Buy?

Unusual Machines, Inc. (NYSEAMERICAN:UMAC)’s stock price was up 13.4% during mid-day trading on Tuesday . The stock traded as high as $26.28 and last traded at $26.18. Approximately 2,421,075 shares traded hands during trading, a decline of 51% from the average daily volume of 4,930,071 shares. The stock had previously closed at $23.08.

Analysts Set New Price Targets

A number of research firms recently issued reports on UMAC. Needham & Company LLC lifted their price objective on Unusual Machines from $30.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday. Roth Capital raised their price target on Unusual Machines to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. HC Wainwright initiated coverage on Unusual Machines in a report on Wednesday, July 15th. They set a “buy” rating and a $42.00 price target for the company. Finally, National Bank Financial set a $42.00 price target on Unusual Machines in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Unusual Machines currently has a consensus rating of “Buy” and a consensus price target of $36.80.

Unusual Machines Stock Down 4.0%

The company has a market cap of $1.18 billion, a price-to-earnings ratio of -58.83 and a beta of 14.92. The business has a 50-day simple moving average of $22.63 and a two-hundred day simple moving average of $17.68.

Unusual Machines (NYSEAMERICAN:UMAC) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.16) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.16). The business had revenue of $16.72 million for the quarter, compared to the consensus estimate of $9.20 million. Unusual Machines had a negative return on equity of 11.83% and a negative net margin of 32.71%. As a group, equities analysts anticipate that Unusual Machines, Inc. will post -0.72 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Brian Joseph Hoff sold 150,000 shares of Unusual Machines stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $17.71, for a total value of $2,656,500.00. Following the transaction, the chief financial officer owned 352,650 shares in the company, valued at $6,245,431.50. This trade represents a 29.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Andrew Ross Camden sold 100,000 shares of the business’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $30.05, for a total transaction of $3,005,000.00. Following the transaction, the president directly owned 246,750 shares of the company’s stock, valued at approximately $7,414,837.50. This represents a 28.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 280,000 shares of company stock valued at $6,477,200. Company insiders own 7.50% of the company’s stock.

Institutional Investors Weigh In On Unusual Machines

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Yorkville Advisors Global LP bought a new position in Unusual Machines during the first quarter worth $1,692,000. Empyrean Capital Partners LP bought a new stake in Unusual Machines in the 1st quarter valued at $620,000. Counterpoint Mutual Funds LLC bought a new stake in Unusual Machines in the 1st quarter valued at $817,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Unusual Machines in the 4th quarter worth $1,776,000. Finally, UBS Group AG grew its position in Unusual Machines by 410.0% in the 4th quarter. UBS Group AG now owns 200,329 shares of the company’s stock worth $2,552,000 after purchasing an additional 161,048 shares during the last quarter.

Unusual Machines Company Profile

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.