Unusual Machines (NYSEAMERICAN:UMAC) Trading Down 7.9% - Here's Why

Key Points

• Shares fell 7.9% to $14.85 on Friday (low $14.67) on a midday volume of 984,661 shares, roughly 77% below its average session volume.
• Analysts maintain a consensus "Buy" rating with an average price target of $20 — Needham recently reaffirmed a Buy with a $20 target.
• Insiders sold shares (CFO sold 11,413 at ~$18.59 and the President sold 9,625 at ~$18.57); insiders have sold 35,768 shares in the last 90 days and now own about 7.5% of the company.

Unusual Machines, Inc. (NYSEAMERICAN:UMAC - Get Free Report)'s stock price fell 7.9% on Friday . The company traded as low as $14.67 and last traded at $14.85. 984,661 shares were traded during mid-day trading, a decline of 77% from the average session volume of 4,337,033 shares. The stock had previously closed at $16.13.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reaffirmed a "buy" rating and issued a $20.00 target price on shares of Unusual Machines in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $20.00.

Unusual Machines Stock Performance

The stock's 50-day moving average price is $14.96 and its two-hundred day moving average price is $13.47. The stock has a market capitalization of $566.87 million, a PE ratio of -17.32 and a beta of 19.89.

Insider Activity at Unusual Machines

In related news, CFO Brian Joseph Hoff sold 11,413 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $18.59, for a total transaction of $212,167.67. Following the sale, the chief financial officer directly owned 514,062 shares of the company's stock, valued at approximately $9,556,412.58. This represents a 2.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Andrew Ross Camden sold 9,625 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $18.57, for a total transaction of $178,736.25. Following the sale, the president directly owned 356,375 shares in the company, valued at $6,617,883.75. This trade represents a 2.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 35,768 shares of company stock valued at $666,037. 7.50% of the stock is owned by insiders.

Institutional Trading of Unusual Machines

Institutional investors have recently bought and sold shares of the company. BlueCrest Capital Management Ltd purchased a new stake in Unusual Machines during the 3rd quarter valued at about $2,168,000. Tudor Investment Corp ET AL grew its position in Unusual Machines by 201.0% during the 3rd quarter. Tudor Investment Corp ET AL now owns 1,207,460 shares of the company's stock valued at $18,233,000 after purchasing an additional 806,359 shares during the last quarter. FNY Investment Advisers LLC grew its position in Unusual Machines by 293.4% during the 4th quarter. FNY Investment Advisers LLC now owns 120,001 shares of the company's stock valued at $1,528,000 after purchasing an additional 89,500 shares during the last quarter. Moody National Bank Trust Division purchased a new stake in Unusual Machines during the 4th quarter valued at about $549,000. Finally, Kieckhefer Group LLC grew its position in Unusual Machines by 330.6% during the 3rd quarter. Kieckhefer Group LLC now owns 62,000 shares of the company's stock valued at $936,000 after purchasing an additional 47,600 shares during the last quarter.

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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