Unusual Machines, Inc. (NYSEAMERICAN:UMAC) Receives $30.00 Average PT from Brokerages

Shares of Unusual Machines, Inc. (NYSEAMERICAN:UMAC) have been assigned a consensus rating of “Buy” from the six brokerages that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $34.80.

Several research firms recently commented on UMAC. Roth Capital increased their target price on shares of Unusual Machines to $40.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Needham & Company LLC lifted their price target on shares of Unusual Machines from $22.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, June 11th. National Bank Financial set a $42.00 price target on Unusual Machines in a report on Wednesday. Finally, HC Wainwright started coverage on Unusual Machines in a research note on Wednesday. They set a “buy” rating and a $42.00 price objective for the company.

Insider Activity

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 value of $3,005,000.00. Following the completion of the transaction, the president owned 246,750 shares in the company, valued at $7,414,837.50. This trade represents a 28.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 stock was sold at an average price of $27.42, for a total value of $411,300.00. Following the completion of the transaction, the director directly owned 4,779,392 shares in the company, valued at $131,050,928.64. This represents a 0.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 280,000 shares of company stock valued at $6,477,200 over the last three months. Insiders own 7.50% of the company’s stock.

Institutional Trading of Unusual Machines

A number of hedge funds have recently bought and sold shares of UMAC. Granahan Investment Management LLC acquired a new stake in shares of Unusual Machines during the fourth quarter valued at approximately $14,708,000. State Street Corp boosted its stake in Unusual Machines by 698.4% in the 4th quarter. State Street Corp now owns 966,184 shares of the company’s stock worth $12,309,000 after purchasing an additional 845,173 shares during the period. Tudor Investment Corp ET AL grew its position in 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 worth $18,233,000 after purchasing an additional 806,359 shares in the last quarter. Wasatch Advisors LP acquired a new stake in Unusual Machines during the 2nd quarter valued at $8,087,000. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of Unusual Machines in the fourth quarter valued at $2,521,000.

Unusual Machines Stock Performance

Shares of Unusual Machines stock opened at $16.93 on Wednesday. Unusual Machines has a 52 week low of $7.24 and a 52 week high of $34.36. The stock has a market cap of $809.08 million, a PE ratio of -40.31 and a beta of 14.84. The company’s 50-day moving average price is $21.27 and its two-hundred day moving average price is $17.11.

Unusual Machines (NYSEAMERICAN:UMAC) last posted its quarterly earnings data 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 business had revenue of $8.10 million for the quarter, compared to the consensus estimate of $5.54 million. Unusual Machines had a negative net margin of 32.71% and a negative return on equity of 11.83%. On average, equities analysts predict that Unusual Machines will post -0.72 EPS for the current fiscal year.

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.