Insider Selling: Unusual Machines (NYSEAMERICAN:UMAC) CEO Sells 11,087 Shares of Stock

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) CEO Allan Thomas Evans sold 11,087 shares of the business’s stock in a transaction dated Monday, December 29th. The shares were sold at an average price of $1.99, for a total transaction of $22,063.13. Following the transaction, the chief executive officer directly owned 165,491 shares of the company’s stock, valued at $329,327.09. The trade was a 6.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Unusual Machines Stock Performance

Shares of NYSEAMERICAN:UMAC traded up $0.83 during trading hours on Wednesday, hitting $12.74. The stock had a trading volume of 3,416,769 shares, compared to its average volume of 2,877,399. The stock’s fifty day simple moving average is $10.85 and its 200 day simple moving average is $10.89. The firm has a market capitalization of $469.85 million, a price-to-earnings ratio of -3.45 and a beta of 22.59. Unusual Machines, Inc. has a 1-year low of $4.45 and a 1-year high of $19.23.

Analyst Ratings Changes

Several brokerages have weighed in on UMAC. Jones Trading initiated coverage on Unusual Machines in a research note on Monday, December 1st. They set a “buy” rating and a $20.00 target price on the stock. Zacks Research upgraded shares of Unusual Machines from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Needham & Company LLC reissued a “buy” rating and set a $20.00 target price on shares of Unusual Machines in a research note on Friday, October 17th. Finally, ThinkEquity upgraded shares of Unusual Machines to a “strong-buy” rating in a research report on Monday, November 17th. 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 company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $20.00.

Institutional Trading of Unusual Machines

Several institutional investors have recently modified their holdings of UMAC. Edmond DE Rothschild Holding S.A. bought a new position in Unusual Machines during the first quarter valued at about $27,000. NTV Asset Management LLC acquired a new stake in Unusual Machines in the 2nd quarter valued at about $86,000. FNY Investment Advisers LLC acquired a new stake in Unusual Machines in the 2nd quarter valued at about $98,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Unusual Machines during the 2nd quarter valued at about $142,000. Finally, GWN Securities Inc. acquired a new position in shares of Unusual Machines in the 2nd quarter worth approximately $246,000.

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.