Unusual Machines (NYSEAMERICAN:UMAC) CFO Sells 11,413 Shares of Stock

Key Points

• CFO Brian Joseph Hoff sold 11,413 shares of Unusual Machines at an average price of $26.01, generating $296,852.13. The Rule 10b5-1 transaction reduced his direct holdings by 3.24% to 341,237 shares.
• Unusual Machines shares traded at $27.43, with a market capitalization of approximately $1.37 billion. The stock has ranged from $7.24 to $34.93 over the past year and carries a highly volatile beta of 14.92.
• Analysts remain broadly optimistic, with six Buy ratings and one Hold rating and an average price target of $37.00. In its latest quarter, the company matched expectations with an adjusted loss of $0.16 per share while revenue of $16.72 million exceeded estimates.

Unusual Machines, Inc. (NYSEAMERICAN:UMAC - Get Free Report) CFO Brian Joseph Hoff sold 11,413 shares of Unusual Machines stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $26.01, for a total transaction of $296,852.13. Following the transaction, the chief financial officer directly owned 341,237 shares in the company, valued at $8,875,574.37. The trade was a 3.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Brian Joseph Hoff also recently made the following trade(s):

• On Wednesday, May 27th, Brian Joseph Hoff sold 150,000 shares of Unusual Machines stock. The stock was sold at an average price of $17.71, for a total transaction of $2,656,500.00.

Unusual Machines Price Performance

Shares of NYSEAMERICAN UMAC traded up $1.45 during midday trading on Friday, reaching $27.43. 4,109,912 shares of the stock were exchanged, compared to its average volume of 5,025,907. The business has a 50-day simple moving average of $22.56 and a two-hundred day simple moving average of $18.55. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of -105.50 and a beta of 14.92. Unusual Machines, Inc. has a 12 month low of $7.24 and a 12 month high of $34.93.

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

Institutional Investors Weigh In On Unusual Machines

Institutional investors have recently bought and sold shares of the company. Wasatch Advisors LP bought a new stake in shares of Unusual Machines in the second quarter worth $8,087,000. Yorkville Advisors Global LP bought a new position in Unusual Machines in the first quarter valued at $1,692,000. Empyrean Capital Partners LP acquired a new stake in Unusual Machines in the 1st quarter valued at $620,000. Counterpoint Mutual Funds LLC acquired a new stake in Unusual Machines in the 1st quarter valued at $817,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Unusual Machines during the 4th quarter worth about $1,776,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. HC Wainwright started coverage on Unusual Machines in a research report on Wednesday, July 15th. They set a "buy" rating and a $42.00 price target on the stock. Roth Capital boosted their price objective on Unusual Machines to $40.00 and gave the company a "buy" rating in a research report on Tuesday, June 2nd. ThinkEquity reissued a "buy" rating on shares of Unusual Machines in a research note on Monday. Piper Sandler initiated coverage on shares of Unusual Machines in a report on Wednesday, August 12th. They set an "overweight" rating and a $38.00 target price on the stock. Finally, National Bank Financial set a $42.00 price target on shares of Unusual Machines in a research note on Wednesday, July 15th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $37.00.

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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