Unusual Machines (NYSEAMERICAN:UMAC) CFO Sells $296,852.13 in Stock

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) CFO Brian Joseph Hoff sold 11,413 shares of Unusual Machines stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $26.01, for a total value of $296,852.13. Following the sale, the chief financial officer directly owned 341,237 shares in the company, valued at $8,875,574.37. The trade was a 3.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Brian Joseph Hoff also recently made the following trade(s):

• On Wednesday, May 27th, Brian Joseph Hoff sold 150,000 shares of Unusual Machines stock. The shares were sold at an average price of $17.71, for a total value of $2,656,500.00.

Unusual Machines Stock Performance

Shares of NYSEAMERICAN UMAC opened at $27.43 on Monday. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of -105.50 and a beta of 14.92. Unusual Machines, Inc. has a one year low of $7.24 and a one year high of $34.93. The business has a fifty day simple moving average of $22.62 and a 200 day simple moving average of $18.64.

Unusual Machines (NYSEAMERICAN:UMAC) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.16) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.16). The firm had revenue of $16.72 million for the quarter, compared to the consensus estimate of $9.20 million. Unusual Machines had a negative net margin of 20.29% and a negative return on equity of 7.62%. On average, research analysts anticipate that Unusual Machines, Inc. will post -0.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in UMAC. Granahan Investment Management LLC acquired a new stake in shares of Unusual Machines during the 4th quarter worth about $14,708,000. State Street Corp boosted its position in Unusual Machines by 698.4% in the fourth quarter. State Street Corp now owns 966,184 shares of the company’s stock valued at $12,309,000 after buying an additional 845,173 shares in the last quarter. Wasatch Advisors LP bought a new stake in Unusual Machines during the second quarter worth about $8,087,000. Alyeska Investment Group L.P. bought a new stake in Unusual Machines during the fourth quarter worth about $2,521,000. Finally, Sei Investments Co. acquired a new stake in shares of Unusual Machines during the third quarter worth approximately $2,652,000.

Analysts Set New Price Targets

UMAC has been the topic of several recent research reports. National Bank Financial set a $42.00 target price on shares of Unusual Machines in a research report on Wednesday, July 15th. Roth Capital increased their price target on shares of Unusual Machines to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. ThinkEquity restated a “buy” rating on shares of Unusual Machines in a research note on Monday, August 17th. Piper Sandler initiated coverage on Unusual Machines in a report on Wednesday, August 12th. They set an “overweight” rating and a $38.00 price objective on the stock. Finally, Needham & Company LLC upped their price objective on Unusual Machines from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

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.