Unusual Machines (NYSEAMERICAN:UMAC) Shares Up 13.4% – What’s Next?

Unusual Machines, Inc. (NYSEAMERICAN:UMAC)’s share price shot up 13.4% on Friday . The company traded as high as $16.81 and last traded at $16.78. 4,375,854 shares changed hands during trading, an increase of 3% from the average session volume of 4,240,583 shares. The stock had previously closed at $14.80.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on UMAC. Needham & Company LLC increased their price target on Unusual Machines from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Roth Mkm began coverage on Unusual Machines in a research note on Wednesday, May 13th. They set a “buy” rating and a $25.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $22.33.

Unusual Machines Trading Up 12.7%

The firm has a market capitalization of $797.14 million, a PE ratio of -39.71 and a beta of 14.32. The firm has a 50-day moving average of $15.08 and a two-hundred day moving average of $13.52.

Unusual Machines (NYSEAMERICAN:UMAC) last issued 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 return on equity of 11.83% and a negative net margin of 32.71%. Equities research analysts expect that Unusual Machines, Inc. will post -0.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, President Andrew Ross Camden sold 9,625 shares of the 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 transaction, the president directly owned 356,375 shares of the company’s stock, valued at approximately $6,617,883.75. This trade represents a 2.63% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Brian Joseph Hoff sold 11,413 shares of the 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 completion of the transaction, the chief financial officer directly owned 514,062 shares in the company, valued at $9,556,412.58. This trade represents a 2.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 35,768 shares of company stock valued at $666,037. 7.50% of the stock is currently owned by company insiders.

Institutional Trading of Unusual Machines

Several large investors have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp increased its holdings in Unusual Machines by 67.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 3,017 shares of the company’s stock valued at $46,000 after purchasing an additional 1,218 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in Unusual Machines by 22.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 11,652 shares of the company’s stock valued at $148,000 after purchasing an additional 2,116 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in Unusual Machines by 54.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 6,169 shares of the company’s stock valued at $79,000 after purchasing an additional 2,169 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in Unusual Machines in the 3rd quarter valued at $38,000. Finally, Wexford Capital LP acquired a new stake in Unusual Machines in the 3rd 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.