Unusual Machines Target of Unusually High Options Trading (NYSEAMERICAN:UMAC)

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) was the target of unusually large options trading on Thursday. Traders acquired 36,144 call options on the stock. This is an increase of approximately 379% compared to the typical daily volume of 7,552 call options.

Unusual Machines Price Performance

NYSEAMERICAN:UMAC opened at $29.60 on Friday. The business has a fifty day simple moving average of $15.03 and a two-hundred day simple moving average of $13.80. Unusual Machines has a 1 year low of $4.81 and a 1 year high of $32.00. The company has a market capitalization of $1.41 billion, a P/E ratio of -70.47 and a beta of 14.32.

Unusual Machines (NYSEAMERICAN:UMAC) last posted its 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 for the quarter, compared to analysts’ expectations 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, analysts anticipate that Unusual Machines will post -0.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

UMAC has been the subject of a number of recent research reports. Roth Mkm initiated coverage on Unusual Machines in a research report on Wednesday, May 13th. They issued a “buy” rating and a $25.00 target price for the company. Needham & Company LLC raised their target price on Unusual Machines from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $22.33.

Insiders Place Their Bets

In other Unusual Machines news, CFO Brian Joseph Hoff sold 11,413 shares of the business’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $18.59, for a total value of $212,167.67. Following the transaction, the chief financial officer owned 514,062 shares of the company’s stock, valued at approximately $9,556,412.58. The trade was a 2.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Andrew Ross Camden sold 9,625 shares of the business’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $18.57, for a total value of $178,736.25. Following the completion of the transaction, the president directly owned 356,375 shares in the company, valued at approximately $6,617,883.75. This represents a 2.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 35,768 shares of company stock valued at $666,037. 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 stock. Tudor Investment Corp ET AL raised its stake in shares of 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 period. Vanguard Group Inc. raised its stake in shares of Unusual Machines by 13.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,162,795 shares of the company’s stock valued at $17,558,000 after purchasing an additional 136,696 shares during the period. Granahan Investment Management LLC bought a new stake in shares of Unusual Machines during the 4th quarter valued at $14,708,000. State Street Corp raised its stake in shares of Unusual Machines by 698.4% during the 4th quarter. State Street Corp now owns 966,184 shares of the company’s stock valued at $12,309,000 after purchasing an additional 845,173 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Unusual Machines by 29.5% during the 4th quarter. Geode Capital Management LLC now owns 359,883 shares of the company’s stock valued at $4,587,000 after purchasing an additional 81,883 shares during the period.

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.