Unusual Machines (NYSEAMERICAN:UMAC) Price Target Cut to $27.00 by Analysts at Piper Sandler

Key Points

• Piper Sandler cut its price target on Unusual Machines from $29 to $27 while maintaining an “overweight” rating; the new target implies 126.89% upside from the current share price.
• Analyst sentiment remains broadly positive: seven analysts rate the stock a Buy, with an average target of $31.86. Other recent targets range from Needham’s $22 to $42 from National Bank Financial and HC Wainwright.
• Unusual Machines reported quarterly revenue of $16.72 million, above analysts’ $9.20 million estimate, while its loss per share of $0.16 matched expectations. Executives also sold shares under pre-arranged trading plans.

Unusual Machines (NYSEAMERICAN:UMAC - Get Free Report) had its target price lowered by stock analysts at Piper Sandler from $29.00 to $27.00 in a report issued on Monday, Benzinga reports. The firm presently has an "overweight" rating on the stock. Piper Sandler's price objective would suggest a potential upside of 126.89% from the company's current price.

Several other equities research analysts have also recently commented on the company. National Bank Financial set a $42.00 target price on Unusual Machines in a research note on Wednesday, July 15th. HC Wainwright started coverage on Unusual Machines in a research report on Wednesday, July 15th. They set a "buy" rating and a $42.00 price target for the company. ThinkEquity reaffirmed a "buy" rating on shares of Unusual Machines in a research note on Monday, August 17th. Northland Securities began coverage on shares of Unusual Machines in a report on Friday, October 23rd. They issued an "outperform" rating and a $30.00 price objective on the stock. Finally, Needham & Company LLC lowered their price objective on shares of Unusual Machines from $40.00 to $22.00 and set a "buy" rating on the stock in a report on Friday. Seven analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $31.86.

Unusual Machines Price Performance

UMAC opened at $11.90 on Monday. The business's 50-day moving average price is $20.44 and its two-hundred day moving average price is $19.11. Unusual Machines has a 1 year low of $7.24 and a 1 year high of $34.93. The company has a market capitalization of $617.73 million, a price-to-earnings ratio of -14.69 and a beta of 15.02.

Unusual Machines (NYSEAMERICAN:UMAC - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.16) earnings per share for the quarter, hitting the consensus estimate of ($0.16). Unusual Machines had a negative return on equity of 7.82% and a negative net margin of 75.91%. The company had revenue of $16.72 million during the quarter, compared to analysts' expectations of $9.20 million. Sell-side analysts anticipate that Unusual Machines will post -0.67 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Brian Joseph Hoff sold 11,413 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 transaction of $296,852.13. Following the sale, the chief financial officer owned 341,237 shares in the company, valued at approximately $8,875,574.37. This represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Andrew Ross Camden sold 9,625 shares of the stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $26.01, for a total value of $250,346.25. Following the transaction, the president directly owned 237,125 shares of the company's stock, valued at $6,167,621.25. This trade represents a 3.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 48,538 shares of company stock worth $1,262,198 in the last quarter. Corporate insiders own 4.87% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in UMAC. Sterling Capital Management LLC grew its position in shares of Unusual Machines by 845.0% in the 3rd 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 raised 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 purchasing an additional 1,500 shares during the period. Integrated Wealth Concepts LLC bought a new stake in shares of Unusual Machines in the 2nd quarter valued at about $52,000. NFSG Corp bought a new stake in shares of Unusual Machines in the 1st quarter valued at about $37,000. Finally, Canton Hathaway LLC acquired a new stake in Unusual Machines in the 3rd quarter valued at about $73,000.

Unusual Machines Company Profile

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.

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