Unusual Machines (NYSEAMERICAN:UMAC) Trading Down 8.9% – Should You Sell?

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) dropped 8.9% on Tuesday . The company traded as low as $13.89 and last traded at $13.97. Approximately 2,897,309 shares traded hands during trading, a decline of 31% from the average daily volume of 4,194,138 shares. The stock had previously closed at $15.34.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 price target on shares of Unusual Machines in a research report on Wednesday, April 22nd. Roth Mkm began coverage on shares of Unusual Machines in a research report on Wednesday. They set a “buy” rating and a $25.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Unusual Machines presently has a consensus rating of “Buy” and an average target price of $21.67.

Unusual Machines Price Performance

The firm has a 50 day moving average price of $15.26 and a 200-day moving average price of $13.53. The firm has a market cap of $659.59 million, a price-to-earnings ratio of -20.15 and a beta of 14.32.

Unusual Machines (NYSEAMERICAN:UMAC) last released its earnings results on Thursday, May 14th. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.15). The business had revenue of $8.10 million for the quarter, compared to analyst estimates of $5.54 million. Unusual Machines had a negative return on equity of 22.91% and a negative net margin of 171.38%. On average, sell-side analysts expect that Unusual Machines, Inc. will post -0.16 EPS for the current fiscal year.

Insider Buying and Selling

In other news, President Andrew Ross Camden sold 9,625 shares of the stock in a transaction on Monday, March 16th. The shares were sold at an average price of $18.57, for a total transaction of $178,736.25. Following the completion of the sale, the president owned 356,375 shares of the company’s stock, valued at $6,617,883.75. This represents a 2.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brian Joseph Hoff sold 11,413 shares of the stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $18.59, for a total value of $212,167.67. Following the transaction, the chief financial officer owned 514,062 shares of the company’s stock, valued at approximately $9,556,412.58. This trade represents a 2.17% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 35,768 shares of company stock valued at $666,037. 7.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Unusual Machines

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlueCrest Capital Management Ltd acquired a new position in Unusual Machines during the third quarter worth approximately $2,168,000. Tudor Investment Corp ET AL lifted its position in shares of Unusual Machines by 201.0% in the third quarter. Tudor Investment Corp ET AL now owns 1,207,460 shares of the company’s stock valued at $18,233,000 after buying an additional 806,359 shares during the last quarter. FNY Investment Advisers LLC lifted its position in shares of Unusual Machines by 293.4% in the fourth quarter. FNY Investment Advisers LLC now owns 120,001 shares of the company’s stock valued at $1,528,000 after buying an additional 89,500 shares during the last quarter. Moody National Bank Trust Division bought a new position in shares of Unusual Machines during the 4th quarter worth approximately $549,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Unusual Machines during the 4th quarter worth approximately $1,776,000.

Unusual Machines Company Profile

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.