Unusual Machines (NYSEAMERICAN:UMAC) Shares Down 10.7% – What’s Next?

Unusual Machines, Inc. (NYSEAMERICAN:UMAC)’s stock price traded down 10.7% on Wednesday . The stock traded as low as $29.01 and last traded at $29.85. 2,159,176 shares changed hands during mid-day trading, a decline of 58% from the average session volume of 5,089,605 shares. The stock had previously closed at $33.42.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Needham & Company LLC lifted their price target on shares of Unusual Machines from $20.00 to $22.00 and gave the company a “buy” rating in a report on Friday, May 15th. Roth Mkm lifted their price target on shares of Unusual Machines to $40.00 and gave the company a “buy” rating in a report on Tuesday. One equities research 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 MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $27.33.

Unusual Machines Stock Performance

The company has a market capitalization of $1.40 billion, a PE ratio of -69.97 and a beta of 14.62. The business’s 50-day moving average is $15.47 and its 200-day moving average is $14.07.

Unusual Machines (NYSEAMERICAN:UMAC) last issued its earnings results on Thursday, May 14th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.15). The firm had revenue of $8.10 million during the quarter, compared to analysts’ expectations of $5.54 million. Unusual Machines had a negative return on equity of 11.83% and a negative net margin of 32.71%. Analysts expect that Unusual Machines, Inc. will post -0.38 EPS for the current year.

Insiders Place Their Bets

In other Unusual Machines news, CRO Stacy Rochelle Wright sold 13,750 shares of Unusual Machines stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $18.57, for a total value of $255,337.50. Following the completion of the transaction, the executive directly owned 96,250 shares of the company’s stock, valued at approximately $1,787,362.50. The trade was a 12.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brian Joseph Hoff sold 150,000 shares of Unusual Machines stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $17.71, for a total transaction of $2,656,500.00. Following the completion of the transaction, the chief financial officer directly owned 352,650 shares of the company’s stock, valued at $6,245,431.50. This trade represents a 29.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 185,768 shares of company stock valued at $3,322,537. Insiders own 7.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Tudor Investment Corp ET AL raised its holdings in Unusual Machines by 201.0% in the third quarter. Tudor Investment Corp ET AL now owns 1,207,460 shares of the company’s stock worth $18,233,000 after buying an additional 806,359 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Unusual Machines by 13.3% in the third quarter. Vanguard Group Inc. now owns 1,162,795 shares of the company’s stock worth $17,558,000 after acquiring an additional 136,696 shares during the period. Granahan Investment Management LLC bought a new stake in shares of Unusual Machines in the fourth quarter worth approximately $14,708,000. State Street Corp grew its stake in shares of Unusual Machines by 698.4% in the fourth quarter. State Street Corp now owns 966,184 shares of the company’s stock worth $12,309,000 after acquiring an additional 845,173 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Unusual Machines by 29.5% in the fourth quarter. Geode Capital Management LLC now owns 359,883 shares of the company’s stock worth $4,587,000 after acquiring an additional 81,883 shares during the period.

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.