Unusual Machines (NYSEAMERICAN:UMAC) Stock Falls 15.5% - Time to Sell?

Key Points

• Unusual Machines shares fell 15.5% to $12.36 in Wednesday mid-day trading, with volume about 56% below its average.
• Analysts remain broadly bullish: seven rate the stock Buy, and the consensus price target is $34.71, though Piper Sandler cut its target to $29.
• The latest quarter’s loss of $0.16 per share matched estimates, while revenue of $16.72 million topped the $9.20 million consensus. Insiders sold 48,538 shares worth about $1.26 million over the past three months.

Unusual Machines, Inc. (NYSEAMERICAN:UMAC - Get Free Report)'s stock price was down 15.5% during mid-day trading on Wednesday. The company traded as low as $12.25 and last traded at $12.36. 1,978,284 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 4,451,545 shares. The stock had previously closed at $14.62.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on UMAC shares. Northland Securities assumed coverage on Unusual Machines in a research report on Friday, October 23rd. They set an "outperform" rating and a $30.00 price target on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $40.00 price objective on shares of Unusual Machines in a research report on Wednesday, October 7th. National Bank Financial set a $42.00 price objective on Unusual Machines in a research report on Wednesday, July 15th. ThinkEquity reissued a "buy" rating on shares of Unusual Machines in a research note on Monday, August 17th. Finally, Piper Sandler decreased their target price on Unusual Machines from $38.00 to $29.00 and set an "overweight" rating on the stock in a report on Friday, October 23rd. Seven equities research analysts have rated the stock with a Buy rating. According to MarketBeat, Unusual Machines currently has a consensus rating of "Buy" and a consensus target price of $34.71.

Unusual Machines Trading Down 10.0%

The company has a 50 day moving average price of $21.22 and a 200 day moving average price of $19.20. The company has a market capitalization of $657.47 million, a price-to-earnings ratio of -50.62 and a beta of 15.02.

Unusual Machines (NYSEAMERICAN:UMAC - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.16) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.16). The business 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 7.62% and a negative net margin of 20.29%. Equities analysts predict that Unusual Machines, Inc. will post -0.67 earnings per share for the current year.

Insider Buying and Selling at Unusual Machines

In other news, CRO Stacy Rochelle Wright sold 27,500 shares of Unusual Machines 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 completion of the sale, the executive owned 68,750 shares in the company, valued at $1,787,500. The trade was a 28.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $26.01, for a total transaction of $296,852.13. Following the sale, the chief financial officer directly owned 341,237 shares of the company's stock, valued at approximately $8,875,574.37. This trade 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. In the last three months, insiders have sold 48,538 shares of company stock worth $1,262,198. Company insiders own 4.87% of the company's stock.

Institutional Trading of Unusual Machines

A number of institutional investors have recently bought and sold shares of UMAC. CenterBook Partners LP bought a new stake in Unusual Machines in the third quarter valued at approximately $661,000. Commonwealth Equity Services LLC bought a new stake in shares of Unusual Machines during the third quarter worth $586,000. Integrity Alliance LLC. bought a new stake in shares of Unusual Machines in the third quarter valued at about $228,000. Gerber Kawasaki Wealth & Investment Management bought a new position in shares of Unusual Machines during the 3rd quarter worth approximately $433,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Unusual Machines in the 3rd quarter valued at $186,000.

About Unusual Machines

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.