Unusual Machines (NYSEAMERICAN:UMAC) Stock Price Down 7.2% – What’s Next?

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) was down 7.2% on Friday . The stock traded as low as $14.64 and last traded at $14.77. Approximately 2,941,607 shares traded hands during trading, a decline of 32% from the average daily volume of 4,308,711 shares. The stock had previously closed at $15.91.

Analyst Ratings Changes

Separately, Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price target on shares of Unusual Machines in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $20.00.

Unusual Machines Stock Down 11.4%

The business has a fifty day simple moving average of $14.67 and a 200 day simple moving average of $13.46. The company has a market cap of $548.95 million, a price-to-earnings ratio of -16.77 and a beta of 19.89.

Insider Buying and Selling at Unusual Machines

In other Unusual Machines news, CRO Stacy Rochelle Wright sold 13,750 shares of the firm’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 $255,337.50. Following the completion of the sale, the executive owned 96,250 shares of the company’s stock, valued at approximately $1,787,362.50. This trade represents a 12.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian Joseph Hoff sold 11,413 shares of the firm’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $18.59, for a total value of $212,167.67. Following the completion of the sale, the chief financial officer directly owned 514,062 shares of the company’s stock, valued at approximately $9,556,412.58. This trade represents a 2.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 35,768 shares of company stock valued at $666,037. 7.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Unusual Machines

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Jones Financial Companies Lllp lifted its holdings in Unusual Machines by 67.7% in the third quarter. Jones Financial Companies Lllp now owns 3,017 shares of the company’s stock valued at $46,000 after acquiring an additional 1,218 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in Unusual Machines by 22.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 11,652 shares of the company’s stock valued at $148,000 after acquiring an additional 2,116 shares during the period. Rockefeller Capital Management L.P. lifted its holdings in Unusual Machines by 54.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 6,169 shares of the company’s stock valued at $79,000 after acquiring an additional 2,169 shares during the period. Ameritas Advisory Services LLC acquired a new stake in Unusual Machines in the third quarter valued at $38,000. Finally, Wexford Capital LP acquired a new stake in Unusual Machines in the third quarter valued at $40,000.

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.