Unusual Machines, Inc. (NYSEAMERICAN:UMAC) Receives Average Recommendation of "Buy" from Analysts

Key Points

• Analysts maintain a “Buy” consensus on Unusual Machines, with four buy ratings, one strong-buy rating, and one hold rating. The average 12-month price target is $36.80, with recent targets ranging from $40 to $42.
• In its latest quarter, the company reported an adjusted loss of $0.16 per share, matching expectations, while revenue of $16.72 million exceeded the $9.20 million analyst estimate. Analysts expect a full-year loss of $0.72 per share.
• UMAC shares opened at $26.11, up sharply from their 52-week low of $7.24 but below the $34.36 high. Insiders sold 280,000 shares worth approximately $6.48 million over the past 90 days, while several institutional investors increased their holdings.

Unusual Machines, Inc. (NYSEAMERICAN:UMAC - Get Free Report) has been assigned a consensus recommendation of "Buy" from the six analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $36.80.

Several equities analysts have recently weighed in on UMAC shares. Roth Capital lifted their price objective on Unusual Machines to $40.00 and gave the company a "buy" rating in a research note on Tuesday, June 2nd. National Bank Financial set a $42.00 price target on shares of Unusual Machines in a report on Wednesday, July 15th. Needham & Company LLC lifted their price target on shares of Unusual Machines from $30.00 to $40.00 and gave the company a "buy" rating in a research report on Thursday. Finally, HC Wainwright initiated 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.

Unusual Machines Stock Performance

Shares of UMAC opened at $26.11 on Friday. The company has a market capitalization of $1.25 billion, a PE ratio of -100.42 and a beta of 14.92. The stock has a fifty day moving average of $22.41 and a two-hundred day moving average of $17.78. Unusual Machines has a fifty-two week low of $7.24 and a fifty-two week high of $34.36.

Unusual Machines (NYSEAMERICAN:UMAC - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.16) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.16). Unusual Machines had a negative net margin of 20.29% and a negative return on equity of 9.33%. The company had revenue of $16.72 million for the quarter, compared to analyst estimates of $9.20 million. As a group, equities research analysts forecast that Unusual Machines will post -0.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Unusual Machines news, Director Jeffrey M. Thompson sold 15,000 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $26.96, for a total value of $404,400.00. Following the completion of the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Andrew Ross Camden sold 100,000 shares of the company's stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $30.05, for a total transaction of $3,005,000.00. Following the completion of the transaction, the president owned 246,750 shares of the company's stock, valued at $7,414,837.50. This trade represents a 28.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 280,000 shares of company stock valued at $6,477,200. Corporate insiders own 7.50% of the company's stock.

Institutional Investors Weigh In On Unusual Machines

Several hedge funds and other institutional investors have recently modified their holdings of UMAC. Vanguard Group Inc. grew its position in shares of Unusual Machines by 13.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,162,795 shares of the company's stock worth $17,558,000 after acquiring an additional 136,696 shares in the last quarter. Granahan Investment Management LLC acquired a new stake in shares of Unusual Machines during the 4th quarter valued at approximately $14,708,000. State Street Corp boosted its holdings in Unusual Machines by 698.4% in the fourth quarter. State Street Corp now owns 966,184 shares of the company's stock worth $12,309,000 after purchasing an additional 845,173 shares during the period. Wasatch Advisors LP acquired a new position in Unusual Machines in the second quarter worth $8,087,000. Finally, Geode Capital Management LLC boosted its holdings in Unusual Machines by 29.5% in the fourth quarter. Geode Capital Management LLC now owns 359,883 shares of the company's stock worth $4,587,000 after purchasing an additional 81,883 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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