Unusual Machines (NYSEAMERICAN:UMAC) Stock Price Up 7.6% - Time to Buy?

Key Points

• Unusual Machines shares rose 7.6% to $23.69, although trading volume was 86% below the average session volume. The company has a $1.18 billion market capitalization and highly volatile trading, reflected by a beta of 14.78.
• Analyst sentiment is broadly positive: six analysts rate the stock Buy and one rates it Hold, producing a “Moderate Buy” consensus and an average price target of $37.00.
• The company met quarterly EPS expectations at a loss of $0.16 but reported revenue of $16.72 million, well above the $9.20 million consensus estimate. However, insiders sold $1.26 million of stock in the latest quarter, and the company remains unprofitable.

Shares of Unusual Machines, Inc. (NYSEAMERICAN:UMAC - Get Free Report) rose 7.6% on Thursday . The company traded as high as $24.07 and last traded at $23.69. 686,546 shares were traded during mid-day trading, a decline of 86% from the average session volume of 4,800,521 shares. The stock had previously closed at $22.01.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Needham & Company LLC increased their price objective on shares of Unusual Machines from $30.00 to $40.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Piper Sandler started coverage on shares of Unusual Machines in a report on Wednesday, August 12th. They issued an "overweight" rating and a $38.00 price target on the stock. ThinkEquity reiterated a "buy" rating on shares of Unusual Machines in a research report on Monday, August 17th. HC Wainwright began coverage on shares of Unusual Machines in a research note on Wednesday, July 15th. They set a "buy" rating and a $42.00 price objective for the company. Finally, National Bank Financial set a $42.00 price objective on Unusual Machines in a research report on Wednesday, July 15th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Unusual Machines has a consensus rating of "Moderate Buy" and an average price target of $37.00.

Unusual Machines Trading Up 7.1%

The stock has a market cap of $1.18 billion, a price-to-earnings ratio of -90.65 and a beta of 14.78. The firm's 50 day moving average is $23.27 and its two-hundred day moving average is $20.02.

Unusual Machines (NYSEAMERICAN:UMAC - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.16) EPS for the quarter, hitting analysts' consensus estimates of ($0.16). The business had revenue of $16.72 million during the quarter, compared to the consensus estimate of $9.20 million. Unusual Machines had a negative net margin of 20.29% and a negative return on equity of 7.62%. As a group, equities analysts expect that Unusual Machines, Inc. will post -0.67 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, President Andrew Ross Camden sold 9,625 shares of Unusual Machines 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 completion of the sale, the president owned 237,125 shares of the company's stock, valued at $6,167,621.25. The trade was a 3.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Stacy Rochelle Wright sold 27,500 shares of the company's stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $26.00, for a total value of $715,000.00. Following the completion of the transaction, the executive owned 68,750 shares of the company's stock, valued at $1,787,500. The trade was a 28.57% 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. 4.87% of the stock is currently owned by company insiders.

Institutional Trading of Unusual Machines

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Granahan Investment Management LLC acquired a new stake in shares of Unusual Machines in the fourth quarter worth approximately $14,708,000. Wasatch Advisors LP purchased a new position in Unusual Machines during the second quarter worth approximately $8,087,000. Squarepoint Ops LLC purchased a new position in Unusual Machines during the second quarter worth approximately $4,872,000. UBS Group AG boosted its holdings in shares of Unusual Machines by 410.0% in the 4th quarter. UBS Group AG now owns 200,329 shares of the company's stock valued at $2,552,000 after purchasing an additional 161,048 shares during the last quarter. Finally, Yorkville Advisors Global LP purchased a new stake in shares of Unusual Machines during the 1st quarter valued at $1,692,000.

Unusual Machines Company Profile

Unusual Machines, Inc is a U.S.-based drone technology company that develops, manufactures and distributes unmanned aircraft systems and components. Its product portfolio is focused primarily on the first-person-view (FPV) drone market and includes drones, motors, propellers, flight controllers, frames, electronic components and FPV goggles.

The company sells products under brands including Rotor Riot and Fat Shark. Rotor Riot is associated with FPV drones, parts and accessories, while Fat Shark is known for FPV video goggles and related equipment.

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