Unusual Machines (NYSEAMERICAN:UMAC) Trading Up 6.2% - Should You Buy?

Key Points

• Unusual Machines shares rose 6.2% to $32.02 during Tuesday trading, giving the company a market capitalization of about $1.52 billion. The stock has a highly volatile beta of 14.92 and trades at a negative price-to-earnings ratio.
• Analyst sentiment is broadly positive, with six Buy ratings and one Hold rating. The consensus is Moderate Buy, with an average price target of $37 and individual targets ranging from $38 to $42.
• The company met its quarterly EPS estimate at a loss of $0.16 per share but exceeded revenue expectations, reporting $16.72 million versus $9.20 million forecast. Meanwhile, insiders sold 280,000 shares worth approximately $6.48 million over the past 90 days.

Shares of Unusual Machines, Inc. (NYSEAMERICAN:UMAC - Get Free Report) were up 6.2% during mid-day trading on Tuesday . The company traded as high as $32.80 and last traded at $32.02. 1,718,159 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 4,991,175 shares. The stock had previously closed at $30.15.

Analysts Set New Price Targets

A number of research firms recently commented on UMAC. Roth Capital lifted their price target on Unusual Machines to $40.00 and gave the stock a "buy" rating in a report on Tuesday, June 2nd. Needham & Company LLC upped their price objective on Unusual Machines from $30.00 to $40.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Piper Sandler began coverage on Unusual Machines in a research report on Wednesday, August 12th. They issued an "overweight" rating and a $38.00 price objective for the company. ThinkEquity reiterated a "buy" rating on shares of Unusual Machines in a research note on Monday. Finally, HC Wainwright initiated coverage on Unusual Machines in a report on Wednesday, July 15th. They set a "buy" rating and a $42.00 target price on the stock. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $37.00.

Unusual Machines Price Performance

The business's 50-day moving average price is $22.32 and its two-hundred day moving average price is $18.27. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of -117.15 and a beta of 14.92.

Unusual Machines (NYSEAMERICAN:UMAC - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.16) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.16). The business had revenue of $16.72 million for the quarter, compared to analyst estimates of $9.20 million. Unusual Machines had a negative net margin of 20.29% and a negative return on equity of 7.62%. As a group, research analysts predict that Unusual Machines, Inc. will post -0.72 EPS for the current year.

Insider Transactions at Unusual Machines

In related news, Director Jeffrey M. Thompson sold 15,000 shares of the business's stock in a transaction 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 sale, the director owned 4,794,392 shares of the company's stock, valued at $129,256,808.32. The trade was a 0.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Andrew Ross Camden sold 100,000 shares of the business'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 in the company, valued at approximately $7,414,837.50. The trade was a 28.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 280,000 shares of company stock worth $6,477,200. Company insiders own 7.50% of the company's stock.

Institutional Trading of Unusual Machines

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UMAC. NFSG Corp bought a new stake in Unusual Machines during the 1st quarter worth approximately $37,000. Wexford Capital LP bought a new stake in shares of Unusual Machines during the third quarter valued at about $40,000. Bank of America Corp DE lifted its stake in Unusual Machines by 7,372.6% in the 2nd quarter. Bank of America Corp DE now owns 7,099 shares of the company's stock worth $61,000 after purchasing an additional 7,004 shares in the last quarter. Ankerstar Wealth LLC bought a new stake in Unusual Machines during the fourth quarter valued at $64,000. Finally, Rockefeller Capital Management L.P. boosted its position in shares of Unusual Machines by 54.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 6,169 shares of the company's stock valued at $79,000 after acquiring an additional 2,169 shares during the last quarter.

Unusual Machines Company Profile

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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