Unusual Machines, Inc. (NYSEAMERICAN:UMAC) Stock Has Average Target Price of $37.00 According to Brokerages

Key Points

• Analyst sentiment is moderately bullish: Seven brokerages give Unusual Machines a consensus “Moderate Buy” rating, with six buys and one hold. The average 12-month price target is $37.00, above the reported $24.05 share price.
• Quarterly revenue exceeded expectations: The company reported $16.72 million in revenue versus a $9.20 million consensus estimate, while its adjusted loss of $0.16 per share matched expectations. Analysts project a full-year loss of $0.67 per share.
• Shares remain highly volatile and insiders have sold stock: UMAC has traded between $7.24 and $34.93 over the past year, with a beta of 14.78. Insiders sold 48,538 shares worth approximately $1.26 million over the last 90 days through pre-arranged trading plans.

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 presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $37.00.

A number of equities analysts have commented on the company. National Bank Financial set a $42.00 price objective on Unusual Machines in a research note on Wednesday, July 15th. Needham & Company LLC increased their target price on Unusual Machines from $30.00 to $40.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Piper Sandler assumed coverage on Unusual Machines in a research report on Wednesday, August 12th. They issued an "overweight" rating and a $38.00 price target on the stock. Roth Capital boosted their price target on Unusual Machines to $40.00 and gave the company a "buy" rating in a research note on Tuesday, June 2nd. Finally, 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.

Unusual Machines Stock Performance

Shares of UMAC opened at $24.05 on Monday. Unusual Machines has a 12 month low of $7.24 and a 12 month high of $34.93. The firm's 50 day moving average is $24.04 and its 200-day moving average is $20.45. The stock has a market capitalization of $1.20 billion, a PE ratio of -92.50 and a beta of 14.78.

Unusual Machines (NYSEAMERICAN:UMAC - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.16) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.16). The company had revenue of $16.72 million during the quarter, compared to the consensus estimate of $9.20 million. Unusual Machines had a negative net margin of 20.29% and a negative return on equity of 7.62%. Equities research analysts predict that Unusual Machines will post -0.67 earnings per share for the current fiscal year.

Insider Buying and Selling at Unusual Machines

In related news, CRO Stacy Rochelle Wright sold 27,500 shares of the stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $26.00, for a total transaction of $715,000.00. Following the sale, the executive owned 68,750 shares in the company, valued at approximately $1,787,500. This trade represents a 28.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Joseph Hoff sold 11,413 shares of the business's stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $26.01, for a total transaction of $296,852.13. Following the transaction, the chief financial officer owned 341,237 shares of the company's stock, valued at approximately $8,875,574.37. This represents a 3.24% decrease in their ownership of the stock. 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. Insiders have sold a total of 48,538 shares of company stock valued at $1,262,198 in the last ninety days. 4.87% of the stock is currently owned by company insiders.

Institutional Trading of Unusual Machines

Several institutional investors and hedge funds have recently modified their holdings of UMAC. IFP Advisors Inc lifted its stake in 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 last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Unusual Machines during the second quarter worth $52,000. NFSG Corp acquired a new stake in shares of Unusual Machines during the 1st quarter valued at $37,000. Rockefeller Capital Management L.P. grew its position in Unusual Machines by 54.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 6,169 shares of the company's stock worth $79,000 after acquiring an additional 2,169 shares during the last quarter. Finally, Leonteq Securities AG bought a new stake in Unusual Machines during the 1st quarter worth $80,000.

About Unusual Machines

Unusual Machines, Inc is a U.S.-based drone technology company that develops, manufactures and distributes unmanned aircraft systems and components. Its product portfolio is focused primarily on the first-person-view (FPV) drone market and includes drones, motors, propellers, flight controllers, frames, electronic components and FPV goggles.

The company sells products under brands including Rotor Riot and Fat Shark. Rotor Riot is associated with FPV drones, parts and accessories, while Fat Shark is known for FPV video goggles and related equipment.

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