Unusual Machines (NYSEAMERICAN:UMAC) Shares Down 8.4% – Time to Sell?

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) shares traded down 8.4% on Thursday. The company traded as low as $16.22 and last traded at $16.24. Approximately 771,394 shares were traded during mid-day trading, a decline of 83% from the average session volume of 4,587,517 shares. The stock had previously closed at $17.73.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on UMAC. National Bank Financial set a $42.00 target price on Unusual Machines in a report on Wednesday, July 15th. ThinkEquity restated a “buy” rating on shares of Unusual Machines in a research report on Monday, August 17th. HC Wainwright began coverage on Unusual Machines in a report on Wednesday, July 15th. They issued a “buy” rating and a $42.00 price target for the company. Piper Sandler started coverage on Unusual Machines in a research report on Wednesday, August 12th. They set an “overweight” rating and a $38.00 price objective on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and set a $40.00 price objective on shares of Unusual Machines in a research report on Wednesday, October 7th. Six analysts have rated the stock with a Buy rating. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $37.00.

Unusual Machines Stock Down 8.5%

The company has a market capitalization of $814.85 million, a PE ratio of -62.73 and a beta of 14.80. The firm has a 50-day moving average of $23.92 and a two-hundred day moving average of $20.80.

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

Insider Transactions at Unusual Machines

In other news, CFO Brian Joseph Hoff sold 11,413 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $26.01, for a total transaction of $296,852.13. Following the completion of the transaction, the chief financial officer directly owned 341,237 shares in the company, valued at approximately $8,875,574.37. This represents a 3.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Stacy Rochelle Wright sold 27,500 shares of the firm’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $26.00, for a total value of $715,000.00. Following the sale, the executive directly owned 68,750 shares of the company’s stock, valued at $1,787,500. The trade was a 28.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 48,538 shares of company stock worth $1,262,198. 4.87% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Wasatch Advisors LP acquired a new stake in shares of Unusual Machines during the second quarter worth about $8,087,000. Squarepoint Ops LLC acquired a new stake in Unusual Machines in the 2nd quarter valued at about $4,872,000. Bank of New York Mellon Corp purchased a new position in shares of Unusual Machines in the 2nd quarter valued at about $2,999,000. Yorkville Advisors Global LP purchased a new position in shares of Unusual Machines in the 1st quarter valued at about $1,692,000. Finally, Concurrent Investment Advisors LLC purchased a new position in shares of Unusual Machines in the 2nd quarter valued at about $1,446,000.

Unusual Machines Company Profile

Unusual Machines, Inc develops, manufactures and sells components and systems for drones, with a focus on first-person-view (FPV) aircraft and other small unmanned aerial systems. Its product offerings include drone motors, propellers, flight controllers, frames and related electronic components used by recreational, commercial and government customers.

The company also markets and distributes FPV drone products through its Rotor Riot brand, which serves the FPV community with aircraft, equipment, accessories and related content.