Concurrent Investment Advisors LLC Makes New $1.45 Million Investment in Unusual Machines, Inc. $UMAC

Key Points

• Concurrent Investment Advisors acquired 64,846 shares of Unusual Machines worth approximately $1.45 million, representing a 0.13% stake. Several other institutional investors also recently initiated or increased positions.
• Unusual Machines reported quarterly revenue of $16.72 million, exceeding analyst expectations of $9.20 million, while EPS matched estimates at a loss of $0.16. The company remains unprofitable, with a negative net margin of 20.29%.
• Analyst sentiment is favorable, with six Buy ratings and one Hold rating producing a consensus “Moderate Buy” and an average price target of $37, above the stock’s reported $24.32 price. However, insiders sold shares under pre-arranged trading plans during the quarter.

Concurrent Investment Advisors LLC acquired a new stake in Unusual Machines, Inc. (NYSEAMERICAN:UMAC - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 64,846 shares of the company's stock, valued at approximately $1,446,000. Concurrent Investment Advisors LLC owned 0.13% of Unusual Machines at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wexford Capital LP purchased a new position in shares of Unusual Machines during the 3rd quarter valued at approximately $40,000. NFSG Corp purchased a new stake in Unusual Machines in the 1st quarter worth $37,000. Ankerstar Wealth LLC acquired a new position in Unusual Machines during the fourth quarter worth $64,000. Rockefeller Capital Management L.P. raised its position in Unusual Machines by 54.2% during the fourth 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 period. Finally, Leonteq Securities AG purchased a new position in Unusual Machines in the 1st quarter valued at about $80,000.

Unusual Machines Stock Performance

UMAC stock opened at $24.32 on Thursday. The firm has a market cap of $1.22 billion, a PE ratio of -93.54 and a beta of 14.78. The firm's 50 day moving average price is $23.12 and its 200-day moving average price is $19.69. Unusual Machines, Inc. has a one year low of $7.24 and a one year high of $34.93.

Unusual Machines (NYSEAMERICAN:UMAC - Get Free Report) last issued 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 analyst estimates of $9.20 million. Unusual Machines had a negative return on equity of 7.62% and a negative net margin of 20.29%. Equities research analysts predict that Unusual Machines, Inc. will post -0.67 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. HC Wainwright began coverage on Unusual Machines in a report on Wednesday, July 15th. They issued 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. Piper Sandler started coverage on Unusual Machines in a report on Wednesday, August 12th. They set an "overweight" rating and a $38.00 price target on the stock. Roth Capital boosted their price target on shares of Unusual Machines to $40.00 and gave the company a "buy" rating in a research report on Tuesday, June 2nd. Finally, Needham & Company LLC upped their price objective on shares of Unusual Machines from $30.00 to $40.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $37.00.

Insider Activity

In other news, CRO Stacy Rochelle Wright sold 27,500 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $26.00, for a total transaction of $715,000.00. Following the completion of the transaction, the executive directly owned 68,750 shares in the company, valued at approximately $1,787,500. This represents a 28.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 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 transaction, the president owned 237,125 shares of the company's stock, valued at approximately $6,167,621.25. This represents a 3.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 quarter. Insiders own 4.87% of the company's stock.

Unusual Machines 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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