Unusual Machines (NYSEAMERICAN:UMAC) Research Coverage Started at Northland Securities

Northland Securities began coverage on shares of Unusual Machines (NYSEAMERICAN:UMAC) in a research note released on Friday, MarketBeat reports. The brokerage issued an outperform rating and a $30.00 price target on the stock.

UMAC has been the topic of several other reports. ThinkEquity reiterated a “buy” rating on shares of Unusual Machines in a research note on Monday, August 17th. Needham & Company LLC reissued a “buy” rating and set a $40.00 price objective on shares of Unusual Machines in a report on Wednesday, October 7th. Piper Sandler assumed coverage on shares of Unusual Machines in a research report on Wednesday, August 12th. They set an “overweight” rating and a $38.00 price objective for the company. 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 objective for the company. Finally, National Bank Financial set a $42.00 target price on shares of Unusual Machines in a report on Wednesday, July 15th. Seven analysts have rated the stock with a Buy rating. According to MarketBeat.com, Unusual Machines currently has a consensus rating of “Buy” and a consensus target price of $34.71.

Unusual Machines Stock Performance

NYSEAMERICAN:UMAC opened at $17.02 on Friday. 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 $850.32 million, a P/E ratio of -65.46 and a beta of 14.80. The stock has a 50-day simple moving average of $22.75 and a 200-day simple moving average of $20.99.

Unusual Machines (NYSEAMERICAN:UMAC) last issued its earnings results on Thursday, August 6th. The company reported ($0.16) earnings per share for the quarter, hitting the consensus estimate of ($0.16). The business had revenue of $16.72 million for the quarter, compared to analyst estimates of $9.20 million. Unusual Machines had a negative return on equity of 7.62% and a negative net margin of 20.29%. On average, equities research analysts predict that Unusual Machines will post -0.67 EPS for the current year.

Insider Transactions at Unusual Machines

In related news, President Andrew Ross Camden sold 9,625 shares of the company’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $26.01, for a total value of $250,346.25. Following the completion of the sale, the president directly owned 237,125 shares of the company’s stock, valued at $6,167,621.25. This represents a 3.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Joseph Hoff sold 11,413 shares of the company’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $26.01, for a total value of $296,852.13. Following the completion of the sale, the chief financial officer directly owned 341,237 shares of the company’s stock, valued at approximately $8,875,574.37. This trade represents a 3.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 48,538 shares of company stock worth $1,262,198. Corporate insiders own 4.87% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Sterling Capital Management LLC boosted its holdings in shares of Unusual Machines by 845.0% in the third quarter. Sterling Capital Management LLC now owns 1,512 shares of the company’s stock valued at $37,000 after acquiring an additional 1,352 shares during the period. IFP Advisors Inc increased its holdings in shares of Unusual Machines by 281.4% in the 2nd quarter. IFP Advisors Inc now owns 2,033 shares of the company’s stock valued at $45,000 after acquiring an additional 1,500 shares during the period. Integrated Wealth Concepts LLC acquired a new position in shares of Unusual Machines in the 2nd quarter valued at $52,000. NFSG Corp acquired a new position in shares of Unusual Machines in the 1st quarter valued at $37,000. Finally, Canton Hathaway LLC purchased a new stake in Unusual Machines in the 3rd quarter valued at $73,000.

About Unusual Machines

Unusual Machines, Inc develops, manufactures and sells unmanned aircraft systems and components, with a focus on first-person-view (FPV) drones. Its product offerings include complete drones, motors, propellers, frames, flight controllers and other replacement parts used by recreational pilots, commercial operators and drone builders.

The company also markets FPV-related electronics and accessories, including video equipment and goggles. Its portfolio has included the Rotor Riot and Fat Shark brands, which are associated with FPV drones, pilot content and immersive flight products.