Unusual Machines (NYSEAMERICAN:UMAC) Shares Down 9.4% – What’s Next?

Shares of Unusual Machines, Inc. (NYSEAMERICAN:UMAC) fell 9.4% on Monday . The company traded as low as $22.45 and last traded at $22.62. Approximately 1,241,489 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 5,178,515 shares. The stock had previously closed at $24.98.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on UMAC shares. Needham & Company LLC boosted their price target on Unusual Machines from $22.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Roth Mkm raised their price objective on Unusual Machines to $40.00 and gave the company 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $30.00.

Unusual Machines Trading Down 5.1%

The firm’s 50-day moving average is $19.06 and its 200 day moving average is $15.80. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of -56.45 and a beta of 14.63.

Unusual Machines (NYSEAMERICAN:UMAC) last posted its earnings results on Thursday, May 14th. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.15). Unusual Machines had a negative return on equity of 11.83% and a negative net margin of 32.71%.The business had revenue of $8.10 million for the quarter, compared to the consensus estimate of $5.54 million. Analysts predict that Unusual Machines, Inc. will post -0.3 EPS for the current year.

Insider Buying and Selling

In related news, President Andrew Ross Camden sold 100,000 shares of the business’s stock in a transaction on 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 sale, the president owned 246,750 shares of the company’s stock, valued at $7,414,837.50. The trade was a 28.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jeffrey M. Thompson sold 15,000 shares of the stock in a transaction on Monday, June 8th. The shares were sold at an average price of $27.42, for a total value of $411,300.00. Following the completion of the sale, the director owned 4,779,392 shares of the company’s stock, valued at $131,050,928.64. The trade was a 0.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 280,000 shares of company stock valued at $6,477,200 over the last 90 days. 7.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Unusual Machines

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

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.