Counterpoint Mutual Funds LLC Purchases New Shares in Unusual Machines, Inc. $UMAC

Counterpoint Mutual Funds LLC purchased a new position in Unusual Machines, Inc. (NYSEAMERICAN:UMAC) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 65,909 shares of the company’s stock, valued at approximately $817,000. Counterpoint Mutual Funds LLC owned approximately 0.17% of Unusual Machines as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in Unusual Machines by 89.1% during the second quarter. Geode Capital Management LLC now owns 222,927 shares of the company’s stock valued at $1,911,000 after purchasing an additional 105,020 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of Unusual Machines in the second quarter valued at about $1,251,000. Bank of America Corp DE increased its stake in shares of Unusual Machines by 7,372.6% during the second 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. Tower Research Capital LLC TRC increased its stake in shares of Unusual Machines by 4,639.7% during the second quarter. Tower Research Capital LLC TRC now owns 13,366 shares of the company’s stock worth $115,000 after purchasing an additional 13,084 shares in the last quarter. Finally, Vanguard Group Inc. raised its position 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 worth $17,558,000 after purchasing an additional 136,696 shares during the last quarter.

Unusual Machines Stock Performance

Shares of NYSEAMERICAN UMAC opened at $22.08 on Friday. The stock has a market cap of $1.06 billion, a PE ratio of -52.57 and a beta of 14.84. Unusual Machines, Inc. has a 12-month low of $7.24 and a 12-month high of $34.36. The company has a 50-day moving average of $20.34 and a 200 day moving average of $16.50.

Unusual Machines (NYSEAMERICAN:UMAC) last released its earnings results on Thursday, May 14th. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.15). The business had revenue of $8.10 million during 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%. On average, sell-side analysts forecast that Unusual Machines, Inc. will post -0.72 EPS for the current fiscal year.

Insider Activity at Unusual Machines

In related news, Director Jeffrey M. Thompson sold 15,000 shares of Unusual Machines stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $27.42, for a total transaction of $411,300.00. Following the transaction, the director owned 4,779,392 shares in the company, valued at approximately $131,050,928.64. This trade represents a 0.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Andrew Ross Camden sold 100,000 shares of the business’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $30.05, for a total value of $3,005,000.00. Following the transaction, the president directly owned 246,750 shares in the company, valued at $7,414,837.50. This trade represents a 28.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 280,000 shares of company stock valued at $6,477,200. 7.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Needham & Company LLC raised their price target on shares of Unusual Machines from $22.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. Roth Mkm boosted their price objective on Unusual Machines to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $30.00.

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.