Unusual Machines (NYSEAMERICAN:UMAC) Stock Price Down 7.3% - What's Next?

Key Points

• UMAC shares fell 7.3% to $24.38 in midday trading, with volume at 572,896 shares—88% below the average session volume.
• Analysts remain broadly positive: six rate the stock Buy and one Hold, producing a “Moderate Buy” consensus and an average price target of $37.00.
• Unusual Machines matched quarterly EPS expectations at a loss of $0.16 but exceeded revenue estimates, reporting $16.72 million versus the expected $9.20 million. Insiders sold $5.08 million of stock over the past three months.

Unusual Machines, Inc. (NYSEAMERICAN:UMAC - Get Free Report) shares traded down 7.3% during mid-day trading on Friday . The stock traded as low as $24.32 and last traded at $24.38. 572,896 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 4,956,502 shares. The stock had previously closed at $26.30.

Analyst Ratings Changes

UMAC has been the subject of several research reports. Piper Sandler initiated coverage on Unusual Machines in a research note on Wednesday, August 12th. They set an "overweight" rating and a $38.00 price target for the company. Needham & Company LLC boosted their price objective on Unusual Machines from $30.00 to $40.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Roth Capital increased their target price on shares of Unusual Machines to $40.00 and gave the stock a "buy" rating in a research report on Tuesday, June 2nd. ThinkEquity reiterated a "buy" rating on shares of Unusual Machines in a research report on Monday, August 17th. Finally, HC Wainwright began coverage on shares of Unusual Machines in a research note on Wednesday, July 15th. They issued a "buy" rating and a $42.00 target price for the company. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $37.00.

Unusual Machines Price Performance

The stock has a fifty day moving average price of $22.62 and a 200 day moving average price of $18.98. The stock has a market capitalization of $1.15 billion, a P/E ratio of -88.81 and a beta of 14.92.

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

Insider Activity

In other Unusual Machines news, CFO Brian Joseph Hoff sold 11,413 shares of the firm's stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $26.01, for a total value of $296,852.13. Following the completion of the transaction, the chief financial officer directly owned 341,237 shares of the company's stock, valued at $8,875,574.37. This trade represents a 3.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jeffrey M. Thompson sold 15,000 shares of the business's stock in a transaction on Friday, June 5th. The shares were sold at an average price of $26.96, for a total transaction of $404,400.00. Following the transaction, the director owned 4,794,392 shares of the company's stock, valued at $129,256,808.32. This trade represents a 0.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 178,538 shares of company stock worth $5,082,898 in the last three months. Insiders own 7.50% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. NFSG Corp bought a new stake in Unusual Machines during the first quarter valued at $37,000. Wexford Capital LP purchased a new stake in shares of Unusual Machines in the 3rd quarter valued at about $40,000. Bank of America Corp DE boosted its position in shares of Unusual Machines by 7,372.6% during the 2nd quarter. Bank of America Corp DE now owns 7,099 shares of the company's stock valued at $61,000 after acquiring an additional 7,004 shares during the last quarter. Ankerstar Wealth LLC bought a new stake in shares of Unusual Machines during the 4th quarter valued at about $64,000. Finally, Rockefeller Capital Management L.P. grew its holdings in shares of 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 purchasing an additional 2,169 shares in the last quarter.

About Unusual Machines

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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