Unusual Machines (NYSEAMERICAN:UMAC) President Sells $178,736.25 in Stock

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) President Andrew Ross Camden sold 9,625 shares of the stock in a transaction that occurred 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 transaction, the president directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Unusual Machines Trading Down 7.5%

NYSEAMERICAN:UMAC opened at $18.60 on Friday. The stock has a market capitalization of $723.35 million, a PE ratio of -22.14 and a beta of 22.23. The firm’s 50 day moving average is $15.49 and its 200 day moving average is $13.10. Unusual Machines, Inc. has a 12 month low of $4.45 and a 12 month high of $23.38.

Institutional Trading of Unusual Machines

Several hedge funds and other institutional investors have recently modified their holdings of UMAC. Allworth Financial LP bought a new stake in shares of Unusual Machines in the second quarter valued at approximately $125,000. Geode Capital Management LLC boosted its holdings in Unusual Machines by 89.1% in the 2nd quarter. Geode Capital Management LLC now owns 222,927 shares of the company’s stock worth $1,911,000 after buying an additional 105,020 shares during the period. Connective Capital Management LLC purchased a new position in Unusual Machines in the 2nd quarter valued at approximately $636,000. Jump Financial LLC purchased a new position in Unusual Machines in the 2nd quarter valued at approximately $1,251,000. Finally, Bank of America Corp DE raised its holdings in Unusual Machines by 7,372.6% during the 2nd quarter. Bank of America Corp DE now owns 7,099 shares of the company’s stock valued at $61,000 after acquiring an additional 7,004 shares during the period.

Wall Street Analyst Weigh In

Several brokerages have issued reports on UMAC. Needham & Company LLC restated a “buy” rating and issued a $20.00 target price on shares of Unusual Machines in a research note on Monday, March 9th. JonesTrading started coverage on Unusual Machines in a research report on Monday, December 1st. They set a “buy” rating and a $20.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $20.00.

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.