Brian Joseph Hoff Sells 11,413 Shares of Unusual Machines (NYSEAMERICAN:UMAC) Stock

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) CFO Brian Joseph Hoff sold 11,413 shares of the firm’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $18.59, for a total value of $212,167.67. Following the sale, the chief financial officer directly owned 514,062 shares of the company’s stock, valued at approximately $9,556,412.58. This represents a 2.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Unusual Machines Trading Up 12.4%

Shares of NYSEAMERICAN:UMAC traded up $2.30 during midday trading on Tuesday, reaching $20.91. The company had a trading volume of 4,634,881 shares, compared to its average volume of 4,060,057. The company’s 50 day moving average price is $15.21 and its 200 day moving average price is $12.93. The stock has a market cap of $813.19 million, a P/E ratio of -24.89 and a beta of 22.20. Unusual Machines, Inc. has a 52-week low of $4.45 and a 52-week high of $23.38.

Institutional Trading of Unusual Machines

Several hedge funds and other institutional investors have recently modified their holdings of UMAC. Jones Financial Companies Lllp boosted its holdings in Unusual Machines by 67.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 3,017 shares of the company’s stock worth $46,000 after buying an additional 1,218 shares during the period. Caitong International Asset Management Co. Ltd raised its holdings in Unusual Machines by 22.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 11,652 shares of the company’s stock valued at $148,000 after acquiring an additional 2,116 shares during the period. Rockefeller Capital Management L.P. lifted its position in shares of Unusual Machines by 54.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 6,169 shares of the company’s stock worth $79,000 after acquiring an additional 2,169 shares in the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of Unusual Machines during the third quarter worth $38,000. Finally, Wexford Capital LP bought a new position in shares of Unusual Machines in the third quarter worth $40,000.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on UMAC. ThinkEquity upgraded shares of Unusual Machines to a “strong-buy” rating in a research note on Monday, November 17th. Needham & Company LLC restated a “buy” rating and set a $20.00 price target on shares of Unusual Machines in a research note on Monday, March 9th. Finally, JonesTrading initiated coverage on shares of Unusual Machines in a report on Monday, December 1st. They issued a “buy” rating and a $20.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $20.00.

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.