Andrew Ross Camden Sells 9,625 Shares of Unusual Machines (NYSEAMERICAN:UMAC) Stock

Key Points

• Unusual Machines President Andrew Ross Camden sold 9,625 shares at an average price of $26.01, generating approximately $250,346. The Rule 10b5-1 transaction reduced his ownership by 3.9% to 237,125 shares.
• UMAC shares rose 5.6% to $27.43, giving the company a market capitalization of about $1.37 billion. The stock has traded between $7.24 and $34.93 over the past year.
• Analysts remain broadly positive, with six Buy ratings and one Hold rating, producing a “Moderate Buy” consensus and an average price target of $37.00. The company reported quarterly revenue of $16.72 million, above the $9.20 million analyst expectation, while posting a loss of $0.16 per share.

Unusual Machines, Inc. (NYSEAMERICAN:UMAC - Get Free Report) President Andrew Ross Camden sold 9,625 shares of the company'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 completion of the sale, the president 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Andrew Ross Camden also recently made the following trade(s):

• On Thursday, June 4th, Andrew Ross Camden sold 100,000 shares of Unusual Machines stock. The shares were sold at an average price of $30.05, for a total value of $3,005,000.00.

Unusual Machines Trading Up 5.6%

NYSEAMERICAN UMAC traded up $1.45 on Friday, hitting $27.43. 4,109,912 shares of the company traded hands, compared to its average volume of 5,025,907. The business's 50 day moving average price is $22.56 and its 200-day moving average price is $18.55. Unusual Machines, Inc. has a 52-week low of $7.24 and a 52-week high of $34.93. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of -105.50 and a beta of 14.92.

Unusual Machines (NYSEAMERICAN:UMAC - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.16) EPS for the quarter, hitting 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 business had revenue of $16.72 million during the quarter, compared to analysts' expectations of $9.20 million. As a group, sell-side analysts predict that Unusual Machines, Inc. will post -0.67 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on UMAC shares. HC Wainwright assumed coverage on shares of Unusual Machines in a report on Wednesday, July 15th. They set a "buy" rating and a $42.00 price target on the stock. Roth Capital increased their price objective on shares of Unusual Machines to $40.00 and gave the stock a "buy" rating in a research note on Tuesday, June 2nd. National Bank Financial set a $42.00 price objective on shares of Unusual Machines in a research report on Wednesday, July 15th. Needham & Company LLC lifted their target price on shares of Unusual Machines from $30.00 to $40.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Finally, Piper Sandler began coverage on Unusual Machines in a report on Wednesday, August 12th. They issued an "overweight" rating and a $38.00 price target on the stock. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $37.00.

Institutional Investors Weigh In On Unusual Machines

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Unusual Machines by 13.3% in 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 in the last quarter. Granahan Investment Management LLC purchased a new position in Unusual Machines during the 4th quarter valued at approximately $14,708,000. State Street Corp increased its stake in Unusual Machines by 698.4% in the 4th quarter. State Street Corp now owns 966,184 shares of the company's stock worth $12,309,000 after acquiring an additional 845,173 shares during the last quarter. Wasatch Advisors LP bought a new stake in Unusual Machines in the 2nd quarter worth approximately $8,087,000. Finally, Geode Capital Management LLC raised its holdings 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 worth $4,587,000 after acquiring an additional 81,883 shares in the last quarter.

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.

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