Unusual Machines (NYSEAMERICAN:UMAC) Issues Earnings Results

Unusual Machines (NYSEAMERICAN:UMAC) released its earnings results on Monday. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.31), FiscalAI reports. The company had revenue of $4.90 million during the quarter, compared to analysts’ expectations of $3.59 million. Unusual Machines had a negative return on equity of 25.59% and a negative net margin of 430.40%.

Unusual Machines Stock Performance

Shares of Unusual Machines stock opened at $17.42 on Monday. The business has a 50-day simple moving average of $14.44 and a 200-day simple moving average of $12.56. The company has a market cap of $642.45 million, a PE ratio of -4.72 and a beta of 22.20. Unusual Machines has a one year low of $4.45 and a one year high of $20.15.

Analyst Ratings Changes

A number of research analysts have recently commented on UMAC shares. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 target price on shares of Unusual Machines in a research note on Wednesday, February 25th. JonesTrading assumed coverage on Unusual Machines in a research note on Monday, December 1st. They issued a “buy” rating and a $20.00 target price for the company. Finally, ThinkEquity raised shares of Unusual Machines to a “strong-buy” rating in a report on Monday, November 17th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $20.00.

Hedge Funds Weigh In On Unusual Machines

A number of institutional investors have recently modified their holdings of the business. Geode Capital Management LLC grew its position in Unusual Machines by 89.1% during the 2nd quarter. Geode Capital Management LLC now owns 222,927 shares of the company’s stock worth $1,911,000 after purchasing an additional 105,020 shares during the last quarter. Jump Financial LLC acquired a new position in Unusual Machines in the 2nd quarter valued at about $1,251,000. Bank of America Corp DE raised its stake in Unusual Machines by 7,372.6% during the 2nd quarter. Bank of America Corp DE now owns 7,099 shares of the company’s stock valued at $61,000 after acquiring an additional 7,004 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Unusual Machines by 4,639.7% in the second quarter. Tower Research Capital LLC TRC now owns 13,366 shares of the company’s stock valued at $115,000 after acquiring an additional 13,084 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Unusual Machines by 13.3% in the third quarter. Vanguard Group Inc. now owns 1,162,795 shares of the company’s stock worth $17,558,000 after acquiring an additional 136,696 shares in 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.