Unusual Machines, Inc. (NYSEAMERICAN:UMAC) Stock Has Consensus Target Price of $37.00

Key Points

• Analysts are bullish on Unusual Machines, with all six covering brokerages assigning a “Buy” rating and an average 12-month price target of $37.00.
• UMAC opened at $16.27, well below its $37 consensus target, but remains highly volatile with a beta of 14.80 and a 52-week range of $7.24 to $34.93.
• The company met quarterly EPS expectations at a loss of $0.16 per share and exceeded revenue estimates with $16.72 million, though it continues to report negative profitability. Insiders sold 48,538 shares worth approximately $1.26 million over the past three months under pre-arranged trading plans.

Shares of Unusual Machines, Inc. (NYSEAMERICAN:UMAC - Get Free Report) have earned an average rating of "Buy" from the six brokerages that are currently covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a buy recommendation. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $37.00.

A number of equities research analysts have weighed in on the company. Piper Sandler assumed coverage on Unusual Machines in a research report on Wednesday, August 12th. They issued an "overweight" rating and a $38.00 target price for the company. ThinkEquity reiterated a "buy" rating on shares of Unusual Machines in a research report on Monday, August 17th. HC Wainwright assumed coverage on Unusual Machines in a research report on Wednesday, July 15th. They set a "buy" rating and a $42.00 price target on the stock. National Bank Financial set a $42.00 price objective on Unusual Machines in a research note on Wednesday, July 15th. Finally, Needham & Company LLC restated a "buy" rating and issued a $40.00 price objective on shares of Unusual Machines in a report on Wednesday, October 7th.

Unusual Machines Trading Down 4.2%

UMAC stock opened at $16.27 on Friday. The firm's 50-day moving average is $23.10 and its two-hundred day moving average is $20.97. The company has a market capitalization of $812.85 million, a price-to-earnings ratio of -62.58 and a beta of 14.80. Unusual Machines has a 52 week low of $7.24 and a 52 week high of $34.93.

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 (EPS) for the quarter, meeting the consensus estimate of ($0.16). Unusual Machines had a negative net margin of 20.29% and a negative return on equity of 7.62%. The business had revenue of $16.72 million during the quarter, compared to analysts' expectations of $9.20 million. On average, equities research analysts predict that Unusual Machines will post -0.67 earnings per share for the current year.

Insiders Place Their Bets

In other Unusual Machines news, President Andrew Ross Camden sold 9,625 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 $250,346.25. Following the completion of the sale, the president directly owned 237,125 shares of the company's stock, valued at approximately $6,167,621.25. This represents a 3.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction 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 $8,875,574.37. The trade was 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. Over the last three months, insiders have sold 48,538 shares of company stock worth $1,262,198. 4.87% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Unusual Machines

A number of hedge funds have recently modified their holdings of UMAC. Sterling Capital Management LLC boosted 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 purchasing an additional 1,352 shares during the period. IFP Advisors Inc lifted its stake in Unusual Machines by 281.4% during the second quarter. IFP Advisors Inc now owns 2,033 shares of the company's stock valued at $45,000 after buying an additional 1,500 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in Unusual Machines during the second quarter valued at about $52,000. NFSG Corp acquired a new position in shares of Unusual Machines in the first quarter worth about $37,000. Finally, Nisa Investment Advisors LLC acquired a new position in shares of Unusual Machines in the third quarter worth about $120,000.

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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