Unusual Machines (NYSEAMERICAN:UMAC) Trading Up 8.8% - Should You Buy?

Key Points

• Unusual Machines shares rose 8.8% to $28.26, despite trading volume falling 71% below the average session level.
• Analysts are broadly bullish, with a consensus “Buy” rating and an average price target of $37.00; recent targets range from $38 to $42.
• The company met its quarterly EPS estimate at a loss of $0.16 but significantly exceeded revenue expectations, reporting $16.72 million versus the $9.20 million consensus. However, the company remains unprofitable, and insiders have sold 280,000 shares worth $6.48 million over the past 90 days.

Unusual Machines, Inc. (NYSEAMERICAN:UMAC - Get Free Report) traded up 8.8% during trading on Wednesday . The stock traded as high as $28.45 and last traded at $28.26. 1,438,858 shares changed hands during trading, a decline of 71% from the average session volume of 4,911,157 shares. The stock had previously closed at $25.97.

Analyst Upgrades and Downgrades

UMAC has been the topic of several recent analyst reports. Roth Capital boosted their price objective on Unusual Machines to $40.00 and gave the stock a "buy" rating in a report on Tuesday, June 2nd. HC Wainwright started coverage on shares of Unusual Machines in a research report on Wednesday, July 15th. They issued a "buy" rating and a $42.00 target price on the stock. Needham & Company LLC upped their price target on shares of Unusual Machines from $30.00 to $40.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. National Bank Financial set a $42.00 price objective on shares of Unusual Machines in a research note on Wednesday, July 15th. Finally, Piper Sandler began coverage on shares of Unusual Machines in a research note on Wednesday. They set an "overweight" rating and a $38.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $37.00.

Unusual Machines Price Performance

The firm's fifty day moving average is $22.22 and its 200 day moving average is $17.90. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of -107.46 and a beta of 14.92.

Unusual Machines (NYSEAMERICAN:UMAC - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.16) earnings per share for the quarter, meeting the consensus estimate of ($0.16). The firm 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%. Equities research analysts forecast that Unusual Machines, Inc. will post -0.72 EPS for the current fiscal year.

Insider Buying and Selling

In related news, President Andrew Ross Camden sold 100,000 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $30.05, for a total transaction of $3,005,000.00. Following the completion of the sale, the president directly owned 246,750 shares in the company, valued at approximately $7,414,837.50. This trade represents a 28.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey M. Thompson sold 15,000 shares of Unusual Machines stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $27.42, for a total value of $411,300.00. Following the sale, the director owned 4,779,392 shares of the company's stock, valued at approximately $131,050,928.64. This represents a 0.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 280,000 shares of company stock worth $6,477,200. Corporate insiders own 7.50% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Wexford Capital LP acquired a new position in Unusual Machines in the third quarter worth about $40,000. NFSG Corp acquired a new stake in shares of Unusual Machines during the 1st quarter worth about $37,000. Ankerstar Wealth LLC bought a new position in shares of Unusual Machines in the fourth quarter valued at approximately $64,000. Rockefeller Capital Management L.P. grew its holdings in shares of Unusual Machines by 54.2% during the fourth 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 during the last quarter. Finally, Leonteq Securities AG bought a new stake in Unusual Machines during the 1st quarter worth about $80,000.

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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