Unusual Machines (NYSEAMERICAN:UMAC) Trading Up 9.1% – Still a Buy?

Unusual Machines, Inc. (NYSEAMERICAN:UMAC)’s share price shot up 9.1% during trading on Thursday . The stock traded as high as $31.74 and last traded at $31.50. 5,578,263 shares were traded during trading, an increase of 8% from the average session volume of 5,157,291 shares. The stock had previously closed at $28.86.

Analyst Ratings Changes

UMAC has been the topic of several recent analyst reports. Roth Mkm lifted their price objective on Unusual Machines to $40.00 and gave the company a “buy” rating in a report on Tuesday. Needham & Company LLC increased their target price on Unusual Machines from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $27.33.

Unusual Machines Price Performance

The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of -63.57 and a beta of 14.62. The firm has a 50-day moving average price of $16.68 and a two-hundred day moving average price of $14.62.

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

Insider Transactions at Unusual Machines

In other news, CFO Brian Joseph Hoff sold 150,000 shares of the company’s stock in a transaction on 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 sale, the chief financial officer directly owned 352,650 shares in the company, valued at approximately $6,245,431.50. This represents a 29.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Andrew Ross Camden sold 100,000 shares of the stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $30.05, for a total transaction of $3,005,000.00. Following the sale, the president owned 246,750 shares in the company, valued at $7,414,837.50. The trade was a 28.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 285,768 shares of company stock valued at $6,327,537. 7.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Unusual Machines

Institutional investors and hedge funds have recently modified their holdings of the business. Tudor Investment Corp ET AL raised its holdings in Unusual Machines by 201.0% in 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 buying an additional 806,359 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Unusual Machines by 13.3% during the third quarter. Vanguard Group Inc. now owns 1,162,795 shares of the company’s stock worth $17,558,000 after purchasing 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 $14,708,000. State Street Corp raised its position in Unusual Machines by 698.4% during 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 last quarter. Finally, Geode Capital Management LLC lifted its holdings in Unusual Machines by 29.5% during the 4th quarter. Geode Capital Management LLC now owns 359,883 shares of the company’s stock worth $4,587,000 after buying 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.