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

Key Points

• Unusual Machines has a consensus analyst rating of Buy, with six analysts covering the stock and an average 12-month price target of $30.00.
• Recent analyst updates were bullish, including Needham raising its target to $30, Roth Capital to $40, and HC Wainwright initiating coverage with a $42 target.
• Insider selling has been notable, with President Andrew Ross Camden and Director Jeffrey M. Thompson selling shares, while the stock has also seen mixed financial results and remains highly volatile.

Shares of Unusual Machines, Inc. (NYSEAMERICAN:UMAC - Get Free Report) have earned a consensus recommendation of "Buy" from the six analysts that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $30.00.

A number of equities research analysts have recently weighed in on UMAC shares. Needham & Company LLC raised their price target on shares of Unusual Machines from $22.00 to $30.00 and gave the company a "buy" rating in a research note on Thursday, June 11th. Roth Capital upped their price objective on shares of Unusual Machines to $40.00 and gave the stock a "buy" rating in a research report on Tuesday, June 2nd. Finally, HC Wainwright assumed coverage on shares of Unusual Machines in a research report on Wednesday. They set a "buy" rating and a $42.00 price objective for the company.

Insider Buying and Selling

In other news, President Andrew Ross Camden sold 100,000 shares of the stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $30.05, for a total value of $3,005,000.00. Following the completion of the sale, the president owned 246,750 shares of the company's stock, valued at approximately $7,414,837.50. This represents a 28.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jeffrey M. Thompson sold 15,000 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $27.42, for a total transaction of $411,300.00. Following the sale, the director directly owned 4,779,392 shares of the company's stock, valued at $131,050,928.64. This represents a 0.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 280,000 shares of company stock valued at $6,477,200 over the last 90 days. 7.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Wexford Capital LP bought a new position in shares of Unusual Machines during the third quarter valued at about $40,000. NFSG Corp bought a new stake in Unusual Machines in the 1st quarter worth about $37,000. Ankerstar Wealth LLC bought a new stake in Unusual Machines in the 4th quarter worth about $64,000. Rockefeller Capital Management L.P. grew its position 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 worth $79,000 after purchasing an additional 2,169 shares in the last quarter. Finally, Leonteq Securities AG purchased a new stake in Unusual Machines in the 1st quarter valued at about $80,000.

Unusual Machines Price Performance

NYSEAMERICAN:UMAC opened at $18.68 on Wednesday. The company has a market cap of $892.72 million, a P/E ratio of -44.48 and a beta of 14.84. The firm's fifty day moving average price is $21.05 and its two-hundred day moving average price is $17.00. Unusual Machines has a one year low of $7.24 and a one year high of $34.36.

Unusual Machines (NYSEAMERICAN:UMAC - Get Free Report) last posted its earnings results on Thursday, May 14th. The company reported $0.21 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.15). The firm had revenue of $8.10 million for the quarter, compared to analyst estimates of $5.54 million. Unusual Machines had a negative return on equity of 11.83% and a negative net margin of 32.71%. As a group, equities research analysts expect that Unusual Machines will post -0.72 earnings per share for the current year.

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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