Unusual Machines (NYSEAMERICAN:UMAC) Stock Gets Price Target Cut from Piper Sandler

Unusual Machines (NYSEAMERICAN:UMAC) had its price objective trimmed by Piper Sandler from $29.00 to $27.00 in a research report report published on Monday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities research analysts have also commented on the company. Northland Securities initiated coverage on Unusual Machines in a research note on Friday, October 23rd. They issued an “outperform” rating and a $30.00 price objective for the company. ThinkEquity reaffirmed a “buy” rating on shares of Unusual Machines in a report on Monday, August 17th. Needham & Company LLC lowered 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, November 6th. HC Wainwright initiated coverage on Unusual Machines in a research report on Wednesday, July 15th. They set a “buy” rating and a $42.00 target price on the stock. Finally, National Bank Financial set a $42.00 price target on Unusual Machines in a report on Wednesday, July 15th. Seven equities research analysts have rated the stock with a Buy rating. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $31.86.

Unusual Machines Trading Up 0.5%

UMAC opened at $12.65 on Monday. Unusual Machines has a 1-year low of $7.24 and a 1-year high of $34.93. The firm’s 50 day simple moving average is $19.81 and its two-hundred day simple moving average is $19.04.

Insider Buying and Selling at Unusual Machines

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 owned 341,237 shares of the company’s stock, valued at $8,875,574.37. The trade was a 3.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Stacy Rochelle Wright sold 27,500 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $26.00, for a total transaction of $715,000.00. Following the completion of the transaction, the executive owned 68,750 shares of the company’s stock, valued at approximately $1,787,500. The trade was a 28.57% 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. Insiders have sold 48,538 shares of company stock valued at $1,262,198 over the last 90 days. 4.87% of the stock is currently owned by corporate insiders.

Institutional Trading of Unusual Machines

Institutional investors and hedge funds have recently modified their holdings of the company. Baird Financial Group Inc. lifted its stake in shares of Unusual Machines by 3.7% during the 2nd quarter. Baird Financial Group Inc. now owns 21,250 shares of the company’s stock valued at $474,000 after buying an additional 750 shares in the last quarter. IFC & Insurance Marketing Inc. increased its stake in Unusual Machines by 9.2% in the 3rd quarter. IFC & Insurance Marketing Inc. now owns 15,445 shares of the company’s stock worth $378,000 after buying an additional 1,305 shares in the last quarter. Sterling Capital Management LLC increased its stake in Unusual Machines by 845.0% in the 3rd quarter. Sterling Capital Management LLC now owns 1,512 shares of the company’s stock worth $37,000 after buying an additional 1,352 shares in the last quarter. IFP Advisors Inc increased its stake in Unusual Machines by 281.4% in the 2nd quarter. IFP Advisors Inc now owns 2,033 shares of the company’s stock worth $45,000 after buying an additional 1,500 shares in the last quarter. Finally, Integrated Wealth Concepts LLC bought a new stake in Unusual Machines during the second quarter valued at about $52,000.

Unusual Machines Company Profile

Unusual Machines is a drone technology company based in Orlando, Florida, focused on products for the first-person-view (FPV) drone market. Its offerings include FPV goggles, drones, motors, batteries, flight electronics and related components and accessories. The company’s portfolio includes Fat Shark, known for FPV video goggles, and Rotor Riot, which sells FPV drones and equipment. Unusual Machines acquired the brands from Red Cat Holdings in 2024. Unusual Machines serves drone enthusiasts and other customers seeking FPV equipment and components, with products available through its brands’ online retail channels.