Unusual Machines (NYSEAMERICAN:UMAC) Hits New 1-Year High – Here’s Why

Shares of Unusual Machines, Inc. (NYSEAMERICAN:UMAC) reached a new 52-week high during trading on Thursday . The stock traded as high as $28.18 and last traded at $27.14, with a volume of 9872789 shares trading hands. The stock had previously closed at $18.83.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on UMAC shares. Roth Mkm began coverage on shares of Unusual Machines in a research report on Wednesday, May 13th. They issued a “buy” rating and a $25.00 price target on the stock. Needham & Company LLC raised their price objective on Unusual Machines from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $22.33.

Unusual Machines Trading Up 44.1%

The company’s 50-day moving average is $14.86 and its 200 day moving average is $13.67. The firm has a market cap of $1.30 billion, a PE ratio of -64.62 and a beta of 14.32.

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 firm had revenue of $8.10 million for 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, research analysts predict that Unusual Machines, Inc. will post -0.38 EPS for the current fiscal year.

Insider Activity

In other Unusual Machines news, CFO Brian Joseph Hoff sold 11,413 shares of Unusual Machines stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $18.59, for a total transaction of $212,167.67. Following the transaction, the chief financial officer owned 514,062 shares of the company’s stock, valued at $9,556,412.58. The trade was a 2.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CRO Stacy Rochelle Wright sold 13,750 shares of the company’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $18.57, for a total value of $255,337.50. Following the completion of the transaction, the executive owned 96,250 shares in the company, valued at $1,787,362.50. This represents a 12.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 35,768 shares of company stock worth $666,037. 7.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp boosted its stake in shares of Unusual Machines by 67.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 3,017 shares of the company’s stock valued at $46,000 after buying an additional 1,218 shares during the period. Caitong International Asset Management Co. Ltd boosted its position 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 purchasing an additional 2,116 shares during the last quarter. Rockefeller Capital Management L.P. grew its stake 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 purchasing an additional 2,169 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in Unusual Machines in the 3rd quarter worth about $38,000. Finally, Wexford Capital LP acquired a new position in Unusual Machines in the 3rd quarter worth about $40,000.

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.