Unusual Machines (NYSEAMERICAN:UMAC) Upgraded to "Strong-Buy" at HC Wainwright

Key Points

• HC Wainwright upgraded Unusual Machines to a “strong-buy” rating, adding to a broadly positive analyst tone around the stock.
• Other analysts have also turned bullish: Roth Capital, Needham, and National Bank Financial recently lifted price targets, and the consensus rating is Buy with a $34.80 average target price.
• The company’s shares opened at $18.52 on Wednesday, while recent results showed revenue beat expectations but EPS missed estimates; insiders have also been selling shares in recent months.

Unusual Machines (NYSEAMERICAN:UMAC - Get Free Report) was upgraded by stock analysts at HC Wainwright to a "strong-buy" rating in a research report issued on Wednesday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on the company. Roth Capital lifted their target price on Unusual Machines to $40.00 and gave the stock a "buy" rating in a research report on Tuesday, June 2nd. Needham & Company LLC upped their price target on Unusual Machines from $22.00 to $30.00 and gave the company a "buy" rating in a report on Thursday, June 11th. Finally, National Bank Financial set a $42.00 price objective on Unusual Machines in a research report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $34.80.

Unusual Machines Price Performance

NYSEAMERICAN:UMAC opened at $18.52 on Wednesday. Unusual Machines has a one year low of $7.24 and a one year high of $34.36. The company has a fifty day moving average price of $21.14 and a 200 day moving average price of $17.04. The stock has a market cap of $885.07 million, a P/E ratio of -44.09 and a beta of 14.84.

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

Insider Activity at Unusual Machines

In other news, Director Jeffrey M. Thompson sold 15,000 shares of the firm's stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $26.96, for a total transaction of $404,400.00. Following the completion of the sale, the director owned 4,794,392 shares of the company's stock, valued at approximately $129,256,808.32. This trade represents a 0.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Brian Joseph Hoff sold 150,000 shares of Unusual Machines 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 $6,245,431.50. This trade represents a 29.84% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 280,000 shares of company stock valued at $6,477,200 in the last ninety days. 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 made changes to their positions in the business. NFSG Corp bought a new stake in Unusual Machines during the 1st quarter worth about $37,000. Wexford Capital LP acquired a new stake in shares of Unusual Machines in the third quarter valued at approximately $40,000. Bank of America Corp DE raised its position 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 during the last quarter. Ankerstar Wealth LLC bought a new position in Unusual Machines in the 4th quarter worth approximately $64,000. Finally, Rockefeller Capital Management L.P. lifted its holdings in Unusual Machines by 54.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 6,169 shares of the company's stock worth $79,000 after buying an additional 2,169 shares in 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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