Granahan Investment Management LLC Purchases Shares of 1,154,505 Unusual Machines, Inc. $UMAC

Granahan Investment Management LLC purchased a new stake in Unusual Machines, Inc. (NYSEAMERICAN:UMAC) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,154,505 shares of the company’s stock, valued at approximately $14,708,000. Granahan Investment Management LLC owned 3.13% of Unusual Machines at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Jones Financial Companies Lllp grew its position in Unusual Machines by 67.7% in the third quarter. Jones Financial Companies Lllp now owns 3,017 shares of the company’s stock valued at $46,000 after acquiring an additional 1,218 shares during the period. Ameritas Advisory Services LLC bought a new stake in Unusual Machines in the third quarter valued at $38,000. Wexford Capital LP bought a new stake in Unusual Machines in the third quarter valued at $40,000. CIBC Private Wealth Group LLC grew its position in Unusual Machines by 133.3% in the third quarter. CIBC Private Wealth Group LLC now owns 7,000 shares of the company’s stock valued at $106,000 after acquiring an additional 4,000 shares during the period. Finally, Ankerstar Wealth LLC bought a new stake in Unusual Machines in the fourth quarter valued at $64,000.

Insider Activity

In other Unusual Machines news, CFO Brian Joseph Hoff sold 150,000 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $17.71, for a total value of $2,656,500.00. Following the transaction, the chief financial officer owned 352,650 shares of the company’s stock, valued at approximately $6,245,431.50. This represents a 29.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 shares were sold at an average price of $30.05, for a total value of $3,005,000.00. Following the completion of the transaction, the president directly owned 246,750 shares in the company, valued at $7,414,837.50. The trade was a 28.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 280,000 shares of company stock valued at $6,477,200 over the last 90 days. 7.50% of the stock is owned by company insiders.

Unusual Machines Stock Up 1.9%

Shares of UMAC opened at $25.20 on Wednesday. Unusual Machines, Inc. has a 12-month low of $7.24 and a 12-month high of $34.36. The firm has a market capitalization of $1.20 billion, a PE ratio of -60.00 and a beta of 14.62. The stock’s fifty day simple moving average is $18.37 and its 200-day simple moving average is $15.46.

Unusual Machines (NYSEAMERICAN:UMAC) last issued its quarterly 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). Unusual Machines had a negative net margin of 32.71% and a negative return on equity of 11.83%. The firm had revenue of $8.10 million for the quarter, compared to analyst estimates of $5.54 million. Analysts anticipate that Unusual Machines, Inc. will post -0.38 EPS for the current year.

Analyst Upgrades and Downgrades

UMAC has been the topic of a number of analyst reports. Needham & Company LLC upped their price target on Unusual Machines from $22.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. Roth Mkm boosted their price objective on Unusual Machines to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $30.00.

Unusual Machines 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.