Unusual Machines (NYSEAMERICAN:UMAC) Shares Climb 13.4% – Still a Buy?

Unusual Machines, Inc. (NYSEAMERICAN:UMAC)’s share price was up 13.4% on Monday. The company traded as high as $13.52 and last traded at $13.49. Approximately 1,171,415 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 4,472,629 shares. The stock had previously closed at $11.90.

Wall Street Analyst Weigh In

UMAC has been the topic of a number of research analyst reports. ThinkEquity reiterated a “buy” rating on shares of Unusual Machines in a research report on Monday, August 17th. Needham & Company LLC reduced their target price on Unusual Machines from $40.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday. Piper Sandler cut their target price on Unusual Machines from $29.00 to $27.00 and set an “overweight” rating on the stock in a research report on Monday. HC Wainwright initiated coverage on shares of Unusual Machines in a research note on Wednesday, July 15th. They issued a “buy” rating and a $42.00 target price on the stock. Finally, Northland Securities assumed coverage on shares of Unusual Machines in a research report on Friday, October 23rd. They issued an “outperform” rating and a $30.00 price objective for the company. Seven equities research analysts have rated the stock with a Buy rating. According to data from MarketBeat, Unusual Machines has a consensus rating of “Buy” and a consensus target price of $31.86.

Unusual Machines Stock Performance

The stock has a market capitalization of $687.29 million, a price-to-earnings ratio of -16.35 and a beta of 15.02. The business’s 50 day simple moving average is $20.44 and its 200-day simple moving average is $19.11.

Unusual Machines (NYSEAMERICAN:UMAC) last announced its earnings results on Thursday, August 6th. The company reported ($0.16) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.16). Unusual Machines had a negative net margin of 75.91% and a negative return on equity of 7.82%. The firm had revenue of $16.72 million during the quarter, compared to analyst estimates of $9.20 million. As a group, sell-side analysts expect that Unusual Machines, Inc. will post -0.67 EPS for the current year.

Insiders Place Their Bets

In other Unusual Machines news, CFO Brian Joseph Hoff sold 11,413 shares of Unusual Machines stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $26.01, for a total transaction of $296,852.13. Following the transaction, the chief financial officer directly owned 341,237 shares in the company, valued at approximately $8,875,574.37. The trade was a 3.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Andrew Ross Camden sold 9,625 shares of the business’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $26.01, for a total transaction of $250,346.25. Following the sale, the president directly owned 237,125 shares in the company, valued at approximately $6,167,621.25. This trade represents a 3.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 48,538 shares of company stock worth $1,262,198. Company insiders own 4.87% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Halter Ferguson Financial Inc. raised its position in shares of Unusual Machines by 16.4% during the third quarter. Halter Ferguson Financial Inc. now owns 1,782,969 shares of the company’s stock worth $43,647,000 after purchasing an additional 250,621 shares during the period. Wasatch Advisors LP bought a new stake in Unusual Machines during the second quarter worth about $8,087,000. Squarepoint Ops LLC acquired a new stake in shares of Unusual Machines in the 2nd quarter valued at approximately $4,872,000. Yorkville Advisors Global LP bought a new stake in shares of Unusual Machines in the 1st quarter valued at about $1,692,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Unusual Machines in the second quarter valued at approximately $2,999,000.

Unusual Machines Company Profile

Unusual Machines, Inc develops, manufactures and sells unmanned aircraft systems and components, with a focus on first-person-view (FPV) drones. Its product offerings include complete drones, motors, propellers, frames, flight controllers and other replacement parts used by recreational pilots, commercial operators and drone builders.

The company also markets FPV-related electronics and accessories, including video equipment and goggles. Its portfolio has included the Rotor Riot and Fat Shark brands, which are associated with FPV drones, pilot content and immersive flight products.