Unusual Machines (NYSEAMERICAN:UMAC) Shares Up 13.4% - Here's Why

Key Points

• Unusual Machines shares rose 13.4% to $13.49 in Monday mid-day trading, while trading volume was about 1.17 million shares—74% below its average.
• Analyst sentiment remained positive: seven analysts rated the stock Buy, with a consensus price target of $31.86. Piper Sandler lowered its target to $27 but maintained an Overweight rating.
• In its latest reported quarter, revenue of $16.72 million topped analysts’ $9.20 million estimate, while the loss of $0.16 per share matched expectations. Company insiders sold 48,538 shares over the prior three months.

Unusual Machines, Inc. (NYSEAMERICAN:UMAC - Get Free Report) shot up 13.4% during mid-day trading on Monday. The stock traded as high as $13.52 and last traded at $13.49. Approximately 1,171,415 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 4,472,629 shares. The stock had previously closed at $11.90.

Wall Street Analyst Weigh In

UMAC has been the topic of a number of research reports. ThinkEquity restated a "buy" rating on shares of Unusual Machines in a report on Monday, August 17th. Piper Sandler cut their target price on shares of Unusual Machines from $29.00 to $27.00 and set an "overweight" rating for the company in a research report on Monday. Northland Securities began coverage on shares of Unusual Machines in a report on Friday, October 23rd. They set an "outperform" rating and a $30.00 target price for the company. National Bank Financial set a $42.00 price objective on Unusual Machines in a research note on Wednesday, July 15th. Finally, HC Wainwright assumed coverage on Unusual Machines in a research note on Wednesday, July 15th. They set a "buy" rating and a $42.00 price target for the company. Seven equities research analysts have rated the stock with a Buy rating. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $31.86.

Unusual Machines Stock Up 11.3%

The business has a 50 day simple moving average of $20.44 and a 200 day simple moving average of $19.11. The company has a market capitalization of $687.29 million, a PE ratio of -16.35 and a beta of 15.02.

Unusual Machines (NYSEAMERICAN:UMAC - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.16) EPS for the quarter, meeting analysts' consensus estimates of ($0.16). The firm had revenue of $16.72 million for the quarter, compared to analyst estimates of $9.20 million. Unusual Machines had a negative return on equity of 7.82% and a negative net margin of 75.91%. Equities analysts expect that Unusual Machines, Inc. will post -0.67 EPS for the current fiscal year.

Insider Transactions at Unusual Machines

In other Unusual Machines news, President Andrew Ross Camden sold 9,625 shares of the 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 owned 237,125 shares in the company, valued at approximately $6,167,621.25. This represents a 3.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Joseph Hoff sold 11,413 shares of Unusual Machines stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $26.01, for a total value of $296,852.13. Following the transaction, the chief financial officer owned 341,237 shares in the company, valued at approximately $8,875,574.37. The trade was a 3.24% decrease in their position. 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 sold a total of 48,538 shares of company stock valued at $1,262,198 in the last three months. 4.87% of the stock is currently owned by company insiders.

Institutional Trading of Unusual Machines

Several institutional investors have recently added to or reduced their stakes in the stock. Halter Ferguson Financial Inc. lifted its position in shares of Unusual Machines by 16.4% during the third quarter. Halter Ferguson Financial Inc. now owns 1,782,969 shares of the company's stock worth $43,647,000 after purchasing an additional 250,621 shares in the last quarter. Wasatch Advisors LP purchased a new position in shares of Unusual Machines during the second quarter worth about $8,087,000. Squarepoint Ops LLC purchased a new stake in Unusual Machines in the second quarter valued at approximately $4,872,000. Bank of New York Mellon Corp acquired a new stake in Unusual Machines during the 2nd quarter worth $2,999,000. Finally, Fifth Third Bancorp grew its holdings in shares of Unusual Machines by 36.7% during the third quarter. Fifth Third Bancorp now owns 106,846 shares of the company's stock worth $2,616,000 after buying an additional 28,674 shares during the last quarter.

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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