Unusual Machines, Inc. (NYSEAMERICAN:UMAC) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Analysts rate Unusual Machines “Moderate Buy”: Six of seven covering firms recommend buying the stock, with an average 12-month price target of $37.00.
• Institutional investors increased exposure: Vanguard, State Street, Geode Capital and others expanded their positions, while insiders sold 78,538 shares worth approximately $2.08 million over the past 90 days.
• Recent results showed strong revenue but continued losses: Quarterly revenue reached $16.72 million, well above the $9.20 million estimate, while earnings matched expectations at a loss of $0.16 per share; analysts project a full-year loss of $0.67 per share.

Shares of Unusual Machines, Inc. (NYSEAMERICAN:UMAC - Get Free Report) have earned an average rating of "Moderate Buy" from the seven ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $37.00.

UMAC has been the topic of several research analyst reports. ThinkEquity reissued a "buy" rating on shares of Unusual Machines in a research note on Monday, August 17th. HC Wainwright assumed 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 on the stock. National Bank Financial set a $42.00 target price on Unusual Machines in a research note on Wednesday, July 15th. Roth Capital upped their price target on Unusual Machines to $40.00 and gave the stock a "buy" rating in a research note on Tuesday, June 2nd. Finally, Needham & Company LLC increased their price target on Unusual Machines from $30.00 to $40.00 and gave the stock a "buy" rating in a report on Thursday, August 6th.

Insider Transactions at Unusual Machines

In related news, President Andrew Ross Camden sold 9,625 shares of Unusual Machines stock in a transaction 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 completion of the sale, the president owned 237,125 shares of the company's stock, valued at approximately $6,167,621.25. This trade represents a 3.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jeffrey M. Thompson sold 15,000 shares of the business's stock in a transaction on Friday, June 5th. The shares were sold at an average price of $26.96, for a total transaction of $404,400.00. Following the sale, the director owned 4,794,392 shares of the company's stock, valued at $129,256,808.32. This trade represents a 0.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 78,538 shares of company stock valued at $2,077,898 over the last ninety days. Company insiders own 4.87% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Unusual Machines by 13.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,162,795 shares of the company's stock worth $17,558,000 after acquiring an additional 136,696 shares during the last quarter. Granahan Investment Management LLC acquired a new position in Unusual Machines during the 4th quarter valued at about $14,708,000. State Street Corp boosted its stake in Unusual Machines by 698.4% during the 4th quarter. State Street Corp now owns 966,184 shares of the company's stock valued at $12,309,000 after purchasing an additional 845,173 shares during the last quarter. Wasatch Advisors LP bought a new stake in Unusual Machines during the 2nd quarter worth approximately $8,087,000. Finally, Geode Capital Management LLC increased its holdings in 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 purchasing an additional 81,883 shares in the last quarter.

Unusual Machines Stock Performance

Shares of NYSEAMERICAN UMAC opened at $23.55 on Thursday. The company has a market capitalization of $1.18 billion, a P/E ratio of -90.58 and a beta of 14.78. Unusual Machines has a 52-week low of $7.24 and a 52-week high of $34.93. The company's 50 day moving average price is $22.72 and its 200-day moving average price is $19.28.

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). The company had revenue of $16.72 million during the quarter, compared to analysts' expectations of $9.20 million. Unusual Machines had a negative net margin of 20.29% and a negative return on equity of 7.62%. Analysts forecast that Unusual Machines will post -0.67 earnings per share for the current 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.

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