Unusual Machines (NYSEAMERICAN:UMAC) Shares Down 8.4% – Here’s Why

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) dropped 8.4% on Thursday. The company traded as low as $16.22 and last traded at $16.24. 771,394 shares were traded during mid-day trading, a decline of 83% from the average session volume of 4,587,517 shares. The stock had previously closed at $17.73.

Analyst Ratings Changes

A number of research analysts have commented on UMAC shares. ThinkEquity restated a “buy” rating on shares of Unusual Machines in a research note on Monday, August 17th. HC Wainwright started coverage on Unusual Machines in a research note on Wednesday, July 15th. They issued a “buy” rating and a $42.00 price objective on the stock. National Bank Financial set a $42.00 target price on Unusual Machines in a report on Wednesday, July 15th. Needham & Company LLC reissued a “buy” rating and issued a $40.00 target price on shares of Unusual Machines in a report on Wednesday, October 7th. Finally, Piper Sandler initiated coverage on Unusual Machines in a research report on Wednesday, August 12th. They set an “overweight” rating and a $38.00 target price for the company. Six research analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $37.00.

Unusual Machines Trading Down 3.7%

The company’s fifty day moving average price is $24.25 and its two-hundred day moving average price is $20.79. The firm has a market cap of $852.82 million, a P/E ratio of -65.65 and a beta of 14.80.

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

Insider Activity

In other Unusual Machines news, President Andrew Ross Camden sold 9,625 shares of the business’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $26.01, for a total value of $250,346.25. Following the transaction, the president owned 237,125 shares of the company’s stock, valued at approximately $6,167,621.25. The trade was a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Stacy Rochelle Wright sold 27,500 shares of the business’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $26.00, for a total value of $715,000.00. Following the completion of the transaction, the executive directly owned 68,750 shares in the company, valued at approximately $1,787,500. This represents a 28.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 48,538 shares of company stock worth $1,262,198. Insiders own 4.87% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Baird Financial Group Inc. increased its position in Unusual Machines by 3.7% in the 2nd quarter. Baird Financial Group Inc. now owns 21,250 shares of the company’s stock valued at $474,000 after acquiring an additional 750 shares in the last quarter. IFP Advisors Inc lifted its position in shares of Unusual Machines by 281.4% during the second quarter. IFP Advisors Inc now owns 2,033 shares of the company’s stock worth $45,000 after purchasing an additional 1,500 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of Unusual Machines by 22.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 11,652 shares of the company’s stock worth $148,000 after purchasing an additional 2,116 shares in the last quarter. Rockefeller Capital Management L.P. lifted its position in shares of Unusual Machines by 54.2% during 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 in the last quarter. Finally, Integrated Wealth Concepts LLC bought a new stake in shares of Unusual Machines during the second quarter valued at approximately $52,000.

Unusual Machines Company Profile

Unusual Machines, Inc develops, manufactures and sells components and systems for drones, with a focus on first-person-view (FPV) aircraft and other small unmanned aerial systems. Its product offerings include drone motors, propellers, flight controllers, frames and related electronic components used by recreational, commercial and government customers.

The company also markets and distributes FPV drone products through its Rotor Riot brand, which serves the FPV community with aircraft, equipment, accessories and related content.