Brian Joseph Hoff Sells 11,413 Shares of Unusual Machines (NYSEAMERICAN:UMAC) Stock

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) CFO Brian Joseph Hoff sold 11,413 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $26.01, for a total transaction of $296,852.13. Following the sale, the chief financial officer directly owned 341,237 shares of the company’s stock, valued at approximately $8,875,574.37. The trade was a 3.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Brian Joseph Hoff also recently made the following trade(s):

• On Wednesday, May 27th, Brian Joseph Hoff sold 150,000 shares of Unusual Machines stock. The shares were sold at an average price of $17.71, for a total transaction of $2,656,500.00.

Unusual Machines Price Performance

Shares of UMAC opened at $27.43 on Friday. The company has a market capitalization of $1.37 billion, a P/E ratio of -105.50 and a beta of 14.92. Unusual Machines, Inc. has a one year low of $7.24 and a one year high of $34.93. The business’s 50 day simple moving average is $22.62 and its 200-day simple moving average is $18.61.

Unusual Machines (NYSEAMERICAN:UMAC) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.16) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.16). Unusual Machines had a negative return on equity of 7.62% and a negative net margin of 20.29%.The firm had revenue of $16.72 million during the quarter, compared to analysts’ expectations of $9.20 million. On average, sell-side analysts anticipate that Unusual Machines, Inc. will post -0.67 EPS for the current fiscal year.

Analyst Ratings Changes

UMAC has been the subject of a number of research analyst reports. Roth Capital lifted their price target on Unusual Machines to $40.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. National Bank Financial set a $42.00 price objective on shares of Unusual Machines in a report on Wednesday, July 15th. HC Wainwright initiated coverage on shares of Unusual Machines in a research report on Wednesday, July 15th. They issued a “buy” rating and a $42.00 price objective for the company. ThinkEquity reaffirmed a “buy” rating on shares of Unusual Machines in a research note on Monday, August 17th. Finally, Needham & Company LLC upped their target price on shares of Unusual Machines from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $37.00.

Institutional Investors Weigh In On Unusual Machines

Several hedge funds and other institutional investors have recently made changes to their positions in UMAC. Wexford Capital LP bought a new stake in shares of Unusual Machines during the third quarter worth $40,000. NFSG Corp bought a new position in Unusual Machines in the first quarter valued at about $37,000. Ankerstar Wealth LLC bought a new position in Unusual Machines in the fourth quarter valued at about $64,000. Rockefeller Capital Management L.P. increased its position in Unusual Machines by 54.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 6,169 shares of the company’s stock worth $79,000 after purchasing an additional 2,169 shares during the period. Finally, Leonteq Securities AG acquired a new stake in Unusual Machines in the first quarter worth about $80,000.

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.