Unusual Machines, Inc. (NYSEAMERICAN:UMAC) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Unusual Machines, Inc. (NYSEAMERICAN:UMAC) have received a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $37.00.

UMAC has been the topic of a number of recent analyst reports. HC Wainwright began coverage on shares of Unusual Machines in a research report on Wednesday, July 15th. They set a “buy” rating and a $42.00 price target on the stock. Piper Sandler began coverage on shares of Unusual Machines in a research report on Wednesday, August 12th. They issued an “overweight” rating and a $38.00 price objective for the company. National Bank Financial set a $42.00 price objective on shares of Unusual Machines in a research note on Wednesday, July 15th. ThinkEquity reissued a “buy” rating on shares of Unusual Machines in a research report on Monday, August 17th. Finally, Needham & Company LLC boosted their target price on Unusual Machines from $30.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th.

Insiders Place Their Bets

In related news, President Andrew Ross Camden sold 9,625 shares of Unusual Machines stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $26.01, for a total transaction of $250,346.25. Following the sale, the president directly owned 237,125 shares in the company, valued at approximately $6,167,621.25. This trade represents a 3.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jeffrey M. Thompson sold 15,000 shares of Unusual Machines stock in a transaction on Monday, June 8th. The stock was sold at an average price of $27.42, for a total value of $411,300.00. Following the sale, the director owned 4,779,392 shares in the company, valued at $131,050,928.64. This trade represents a 0.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 78,538 shares of company stock valued at $2,077,898. Insiders own 4.87% of the company’s stock.

Hedge Funds Weigh In On Unusual Machines

Several institutional investors have recently added to or reduced their stakes in UMAC. Vanguard Group Inc. increased its holdings in 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 buying an additional 136,696 shares during the last quarter. Granahan Investment Management LLC bought a new stake in Unusual Machines in the fourth quarter worth about $14,708,000. State Street Corp boosted its stake in Unusual Machines by 698.4% in the fourth quarter. State Street Corp now owns 966,184 shares of the company’s stock valued at $12,309,000 after acquiring an additional 845,173 shares during the last quarter. Wasatch Advisors LP purchased a new position in Unusual Machines in the second quarter valued at about $8,087,000. Finally, Geode Capital Management LLC grew its position in shares of Unusual Machines by 29.5% during the 4th quarter. Geode Capital Management LLC now owns 359,883 shares of the company’s stock valued at $4,587,000 after acquiring an additional 81,883 shares during the period.

Unusual Machines Trading Up 4.0%

Shares of NYSEAMERICAN:UMAC opened at $23.55 on Thursday. The stock’s fifty day simple moving average is $22.72 and its two-hundred day simple moving average is $19.28. Unusual Machines has a 1-year low of $7.24 and a 1-year high of $34.93. The stock has a market cap of $1.18 billion, a PE ratio of -90.58 and a beta of 14.78.

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

About Unusual Machines

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.