Unusual Machines (NYSEAMERICAN:UMAC) Stock Price Up 13.4% - Time to Buy?

Key Points

• Unusual Machines shares rose 13.4% to $26.18, with trading volume below its daily average. The stock has a market capitalization of approximately $1.27 billion and an unusually high beta of 14.92, indicating significant volatility.
• Analysts remain broadly optimistic, with a consensus “Buy” rating and an average price target of $34.80. Recent targets range from $30 to $42.
• The company exceeded quarterly revenue expectations but missed on earnings, reporting $8.10 million in revenue and $0.21 EPS versus a $0.36 estimate. Unusually Machines remains unprofitable, while insiders have sold 280,000 shares worth approximately $6.5 million over the past three months.

Unusual Machines, Inc. (NYSEAMERICAN:UMAC - Get Free Report) traded up 13.4% on Tuesday . The stock traded as high as $26.28 and last traded at $26.18. Approximately 2,421,075 shares were traded during trading, a decline of 51% from the average daily volume of 4,930,071 shares. The stock had previously closed at $23.08.

Analysts Set New Price Targets

UMAC has been the topic of several recent analyst reports. National Bank Financial set a $42.00 price target on Unusual Machines in a research note on Wednesday, July 15th. Needham & Company LLC raised their price objective on 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 lifted their target price on Unusual Machines to $40.00 and gave the company a "buy" rating in a research report on Tuesday, June 2nd. Finally, HC Wainwright assumed coverage on Unusual Machines in a research note on Wednesday, July 15th. They set a "buy" rating and a $42.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Unusual Machines presently has a consensus rating of "Buy" and a consensus target price of $34.80.

Unusual Machines Stock Up 15.6%

The business's 50 day simple moving average is $22.30 and its two-hundred day simple moving average is $17.56. The stock has a market cap of $1.27 billion, a P/E ratio of -63.50 and a beta of 14.92.

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

Insider Activity

In related news, Director Jeffrey M. Thompson sold 15,000 shares of the firm's stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $27.42, for a total value of $411,300.00. Following the completion of the transaction, the director owned 4,779,392 shares in the company, valued at $131,050,928.64. This trade represents a 0.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brian Joseph Hoff sold 150,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $17.71, for a total transaction of $2,656,500.00. Following the completion of the transaction, the chief financial officer owned 352,650 shares of the company's stock, valued at approximately $6,245,431.50. This trade represents a 29.84% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 280,000 shares of company stock valued at $6,477,200. 7.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Unusual Machines

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Granahan Investment Management LLC acquired a new stake in Unusual Machines in the fourth quarter valued at $14,708,000. State Street Corp grew its position in shares of Unusual Machines by 698.4% in the 4th quarter. State Street Corp now owns 966,184 shares of the company's stock valued at $12,309,000 after buying an additional 845,173 shares during the last quarter. Wasatch Advisors LP bought a new stake in shares of Unusual Machines in the 2nd quarter valued at about $8,087,000. Alyeska Investment Group L.P. acquired a new stake in shares of Unusual Machines in the fourth quarter valued at about $2,521,000. Finally, Sei Investments Co. bought a new position in shares of Unusual Machines during the third quarter worth about $2,652,000.

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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