Unusual Machines (NYSEAMERICAN:UMAC) CRO Sells $715,000.00 in Stock

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) CRO Stacy Rochelle Wright sold 27,500 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $26.00, for a total value of $715,000.00. Following the completion of the sale, the executive directly owned 68,750 shares in the company, valued at approximately $1,787,500. This represents a 28.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Unusual Machines Stock Performance

NYSEAMERICAN:UMAC opened at $27.43 on Monday. The firm has a market cap of $1.37 billion, a P/E ratio of -105.50 and a beta of 14.92. The firm has a 50-day simple moving average of $22.62 and a two-hundred day simple moving average of $18.64. Unusual Machines, Inc. has a fifty-two week low of $7.24 and a fifty-two week high of $34.93.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Granahan Investment Management LLC purchased a new stake in Unusual Machines during the fourth quarter valued at approximately $14,708,000. State Street Corp boosted its holdings in shares of Unusual Machines by 698.4% in the 4th quarter. State Street Corp now owns 966,184 shares of the company’s stock worth $12,309,000 after purchasing an additional 845,173 shares during the period. Wasatch Advisors LP bought a new position in shares of Unusual Machines during the 2nd quarter valued at approximately $8,087,000. Alyeska Investment Group L.P. bought a new position in shares of Unusual Machines during the 4th quarter valued at approximately $2,521,000. Finally, Sei Investments Co. purchased a new stake in Unusual Machines during the 3rd quarter valued at $2,652,000.

Analyst Ratings Changes

UMAC has been the subject of several research analyst reports. Needham & Company LLC lifted their price objective on Unusual Machines from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Piper Sandler started coverage on shares of Unusual Machines in a research report on Wednesday, August 12th. They issued an “overweight” rating and a $38.00 price target on the stock. HC Wainwright initiated coverage on shares of Unusual Machines in a research note on Wednesday, July 15th. They set a “buy” rating and a $42.00 price target on the stock. ThinkEquity reissued a “buy” rating on shares of Unusual Machines in a research report on Monday, August 17th. Finally, Roth Capital upped their price objective on Unusual Machines to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $37.00.

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.