Roth Mkm Upgrades Unusual Machines (NYSEAMERICAN:UMAC) to “Strong-Buy”

Unusual Machines (NYSEAMERICAN:UMAC) was upgraded by research analysts at Roth Mkm to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Separately, Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Unusual Machines in a research report on Wednesday, April 22nd. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Unusual Machines has a consensus rating of “Buy” and a consensus price target of $21.67.

Unusual Machines Stock Performance

Shares of UMAC stock opened at $14.97 on Wednesday. Unusual Machines has a 52-week low of $4.67 and a 52-week high of $23.38. The company has a 50-day simple moving average of $15.20 and a two-hundred day simple moving average of $13.50. The company has a market capitalization of $583.23 million, a price-to-earnings ratio of -17.82 and a beta of 14.32.

Insider Activity

In other news, CRO Stacy Rochelle Wright sold 13,750 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 $255,337.50. Following the completion of the transaction, the executive directly owned 96,250 shares of the company’s stock, valued at $1,787,362.50. This represents a 12.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 35,768 shares of company stock valued at $666,037 in the last three months. Company insiders own 7.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. BlueCrest Capital Management Ltd bought a new position in shares of Unusual Machines during the 3rd quarter valued at approximately $2,168,000. Tudor Investment Corp ET AL grew its position in shares of Unusual Machines by 201.0% during the 3rd quarter. Tudor Investment Corp ET AL now owns 1,207,460 shares of the company’s stock valued at $18,233,000 after acquiring an additional 806,359 shares during the period. FNY Investment Advisers LLC grew its position in shares of Unusual Machines by 293.4% during the 4th quarter. FNY Investment Advisers LLC now owns 120,001 shares of the company’s stock valued at $1,528,000 after acquiring an additional 89,500 shares during the period. Moody National Bank Trust Division bought a new position in shares of Unusual Machines during the 4th quarter valued at approximately $549,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Unusual Machines during the 4th quarter valued at approximately $1,776,000.

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.