Unusual Machines (NYSEAMERICAN:UMAC) President Sells 9,625 Shares

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) President Andrew Ross Camden sold 9,625 shares of the company’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $26.01, for a total transaction of $250,346.25. Following the sale, the president directly owned 237,125 shares in the company, valued at approximately $6,167,621.25. The trade was a 3.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Andrew Ross Camden also recently made the following trade(s):

• On Thursday, June 4th, Andrew Ross Camden sold 100,000 shares of Unusual Machines stock. The shares were sold at an average price of $30.05, for a total transaction of $3,005,000.00.

Unusual Machines Stock Performance

Shares of NYSEAMERICAN:UMAC traded up $1.45 on Friday, reaching $27.43. The company’s stock had a trading volume of 4,109,912 shares, compared to its average volume of 5,025,907. The company has a 50-day simple moving average of $22.56 and a 200 day simple moving average of $18.55. Unusual Machines, Inc. has a 52-week low of $7.24 and a 52-week high of $34.93. The company has a market cap of $1.37 billion, a P/E ratio of -105.50 and a beta of 14.92.

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. HC Wainwright began coverage on Unusual Machines in a research note on Wednesday, July 15th. They issued a “buy” rating and a $42.00 price objective for the company. National Bank Financial set a $42.00 price objective on shares of Unusual Machines in a research report on Wednesday, July 15th. ThinkEquity reissued a “buy” rating on shares of Unusual Machines in a research note on Monday. Roth Capital raised their target price on shares of Unusual Machines to $40.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Finally, Needham & Company LLC upped their price target on shares of Unusual Machines from $30.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $37.00.

Hedge Funds Weigh In On Unusual Machines

A number of large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp bought a new stake in Unusual Machines during the 2nd quarter valued at $2,999,000. Wasatch Advisors LP bought a new position in shares of Unusual Machines in the 2nd quarter worth $8,087,000. IFC & Insurance Marketing Inc. raised its position in shares of Unusual Machines by 30.7% in the 2nd quarter. IFC & Insurance Marketing Inc. now owns 14,140 shares of the company’s stock worth $315,000 after acquiring an additional 3,319 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Unusual Machines by 213.2% during the 1st quarter. Bank of America Corp DE now owns 38,963 shares of the company’s stock worth $483,000 after purchasing an additional 26,524 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in shares of Unusual Machines by 27.8% during the 1st quarter. Royal Bank of Canada now owns 68,382 shares of the company’s stock worth $848,000 after purchasing an additional 14,895 shares during the last quarter.

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.