Unusual Machines (NYSEAMERICAN:UMAC) Earns Buy Rating from Analysts at HC Wainwright

HC Wainwright started coverage on shares of Unusual Machines (NYSEAMERICAN:UMAC) in a research note published on Wednesday, MarketBeat.com reports. The brokerage issued a buy rating and a $42.00 price target on the stock.

A number of other brokerages have also commented on UMAC. National Bank Financial set a $42.00 price objective on shares of Unusual Machines in a report on Wednesday. Roth Capital raised their target price on Unusual Machines to $40.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Finally, Needham & Company LLC raised their target price on Unusual Machines from $22.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Unusual Machines presently has an average rating of “Buy” and a consensus target price of $34.80.

Unusual Machines Stock Up 1.7%

UMAC opened at $16.93 on Wednesday. The firm has a market capitalization of $809.08 million, a P/E ratio of -40.31 and a beta of 14.84. The firm’s 50 day moving average is $21.27 and its 200-day moving average is $17.07. Unusual Machines has a 52-week low of $7.24 and a 52-week high of $34.36.

Unusual Machines (NYSEAMERICAN:UMAC) last announced its earnings results on Thursday, May 14th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.15). The firm had revenue of $8.10 million during the quarter, compared to analysts’ expectations of $5.54 million. Unusual Machines had a negative net margin of 32.71% and a negative return on equity of 11.83%. Equities analysts expect that Unusual Machines will post -0.72 earnings per share for the current fiscal year.

Insider Transactions 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 Monday, June 8th. The shares were sold at an average price of $27.42, for a total transaction of $411,300.00. Following the completion of the sale, the director owned 4,779,392 shares of the company’s stock, valued at approximately $131,050,928.64. This trade represents a 0.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Andrew Ross Camden sold 100,000 shares of Unusual Machines 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 owned 246,750 shares of the company’s stock, valued at approximately $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 quarter, insiders sold 280,000 shares of company stock valued at $6,477,200. 7.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Unusual Machines

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd raised its stake in Unusual Machines by 22.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 11,652 shares of the company’s stock valued at $148,000 after buying an additional 2,116 shares in the last quarter. 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 during the last quarter. Wexford Capital LP acquired a new position in shares of Unusual Machines in the 3rd quarter worth approximately $40,000. NFSG Corp acquired a new position in shares of Unusual Machines in the 1st quarter worth approximately $37,000. Finally, IFC & Insurance Marketing Inc. increased its holdings in shares of Unusual Machines by 43.6% in the 1st quarter. IFC & Insurance Marketing Inc. now owns 10,821 shares of the company’s stock valued at $134,000 after acquiring an additional 3,283 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.