Unusual Machines (NYSEAMERICAN:UMAC) Trading Up 7.5% - What's Next?

Key Points

• Unusual Machines shares jumped 7.5% to $25.55 in Tuesday trading, although volume was 76% below the average daily level.
• 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.
• The company matched quarterly EPS expectations at a loss of $0.16 but exceeded revenue estimates with $16.72 million in sales; insiders have sold 48,538 shares worth about $1.26 million over the past quarter.

Unusual Machines, Inc. (NYSEAMERICAN:UMAC - Get Free Report) shares were up 7.5% on Tuesday . The company traded as high as $25.67 and last traded at $25.55. 1,150,417 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 4,891,794 shares. The stock had previously closed at $23.76.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Piper Sandler assumed coverage on shares of Unusual Machines in a research report on Wednesday, August 12th. They set an "overweight" rating and a $38.00 price objective for the company. National Bank Financial set a $42.00 price objective on shares of Unusual Machines in a research report on Wednesday, July 15th. Needham & Company LLC upped their target price on shares of Unusual Machines from $30.00 to $40.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. HC Wainwright started coverage on Unusual Machines in a report on Wednesday, July 15th. They set a "buy" rating and a $42.00 target price for the company. Finally, Roth Capital increased their target price on Unusual Machines to $40.00 and gave the stock a "buy" rating in a report on Tuesday, June 2nd. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $37.00.

Unusual Machines Price Performance

The stock's 50-day moving average price is $23.02 and its 200 day moving average price is $19.53. The firm has a market cap of $1.29 billion, a P/E ratio of -99.08 and a beta of 14.78.

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). Unusual Machines had a negative net margin of 20.29% and a negative return on equity of 7.62%. The firm had revenue of $16.72 million for the quarter, compared to analyst estimates of $9.20 million. As a group, analysts forecast that Unusual Machines, Inc. will post -0.67 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CRO Stacy Rochelle Wright sold 27,500 shares of the company's stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $26.00, for a total transaction of $715,000.00. Following the sale, the executive owned 68,750 shares in the company, valued at approximately $1,787,500. This represents a 28.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 that occurred on Thursday, August 20th. The shares were sold at an average price of $26.01, for a total value of $250,346.25. Following the transaction, the president directly owned 237,125 shares of the company's stock, valued at $6,167,621.25. This trade represents a 3.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 48,538 shares of company stock worth $1,262,198. Corporate insiders own 4.87% of the company's stock.

Hedge Funds Weigh In On Unusual Machines

Several hedge funds and other institutional investors have recently made changes to their positions in UMAC. Caitong International Asset Management Co. Ltd raised its position in Unusual Machines by 22.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 11,652 shares of the company's stock worth $148,000 after acquiring an additional 2,116 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in Unusual Machines by 54.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 6,169 shares of the company's stock valued at $79,000 after purchasing an additional 2,169 shares during the last quarter. Wexford Capital LP bought a new position in Unusual Machines during the third quarter worth about $40,000. NFSG Corp bought a new stake in Unusual Machines in the first quarter valued at approximately $37,000. Finally, IFC & Insurance Marketing Inc. raised its stake in Unusual Machines by 43.6% in the 1st quarter. IFC & Insurance Marketing Inc. now owns 10,821 shares of the company's stock valued at $134,000 after acquiring an additional 3,283 shares during the period.

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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