Unusual Machines (NYSEAMERICAN:UMAC) CRO Stacy Rochelle Wright Sells 13,750 Shares of Stock

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) CRO Stacy Rochelle Wright sold 13,750 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $18.57, for a total transaction of $255,337.50. Following the completion of the sale, the executive directly owned 96,250 shares of the company’s stock, valued at approximately $1,787,362.50. The trade was a 12.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Unusual Machines Price Performance

Shares of NYSEAMERICAN:UMAC opened at $20.91 on Wednesday. The firm has a market capitalization of $813.19 million, a PE ratio of -24.89 and a beta of 22.23. The business has a 50 day simple moving average of $15.31 and a two-hundred day simple moving average of $13.01. Unusual Machines, Inc. has a 1 year low of $4.45 and a 1 year high of $23.38.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on UMAC shares. JonesTrading started coverage on Unusual Machines in a report on Monday, December 1st. They set a “buy” rating and a $20.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 target price on shares of Unusual Machines in a research note on Monday, March 9th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Unusual Machines currently has a consensus rating of “Buy” and an average target price of $20.00.

Institutional Trading of Unusual Machines

Hedge funds have recently modified their holdings of the company. Connective Capital Management LLC purchased a new stake in Unusual Machines during the second quarter valued at approximately $636,000. BlueCrest Capital Management Ltd acquired a new stake in Unusual Machines in the third quarter valued at approximately $2,168,000. Allworth Financial LP purchased a new position in Unusual Machines in the second quarter worth $125,000. Kieckhefer Group LLC grew its holdings in Unusual Machines by 330.6% in the third quarter. Kieckhefer Group LLC now owns 62,000 shares of the company’s stock worth $936,000 after purchasing an additional 47,600 shares during the last quarter. Finally, Bluefin Capital Management LLC acquired a new position in shares of Unusual Machines during the second quarter worth $166,000.

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.