Jeffrey Thompson Sells 15,000 Shares of Unusual Machines (NYSEAMERICAN:UMAC) Stock

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) Director Jeffrey Thompson sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $27.42, for a total transaction of $411,300.00. Following the completion of the transaction, the director directly owned 4,779,392 shares of the company’s stock, valued at $131,050,928.64. This represents a 0.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Unusual Machines Trading Down 7.5%

NYSEAMERICAN:UMAC traded down $1.95 during trading hours on Tuesday, hitting $23.90. 6,258,578 shares of the stock traded hands, compared to its average volume of 5,226,108. The firm has a 50 day moving average price of $16.93 and a 200 day moving average price of $14.78. Unusual Machines, Inc. has a fifty-two week low of $7.24 and a fifty-two week high of $34.36. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of -56.90 and a beta of 14.63.

Unusual Machines (NYSEAMERICAN:UMAC) last issued its earnings results on Thursday, May 14th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.15). The business had revenue of $8.10 million during the quarter, compared to analyst estimates of $5.54 million. Unusual Machines had a negative return on equity of 11.83% and a negative net margin of 32.71%. Research analysts predict that Unusual Machines, Inc. will post -0.38 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently weighed in on UMAC shares. Needham & Company LLC upped their price target on Unusual Machines from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Roth Mkm upped their price target on Unusual Machines to $40.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Unusual Machines has a consensus rating of “Buy” and a consensus target price of $27.33.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Bank of America Corp DE increased its stake in shares of Unusual Machines by 213.2% during the 1st quarter. Bank of America Corp DE now owns 38,963 shares of the company’s stock worth $483,000 after purchasing an additional 26,524 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Unusual Machines by 27.8% during the 1st quarter. Royal Bank of Canada now owns 68,382 shares of the company’s stock worth $848,000 after purchasing an additional 14,895 shares during the last quarter. Empyrean Capital Partners LP acquired a new position in shares of Unusual Machines during the 1st quarter worth $620,000. DLD Asset Management LP bought a new stake in shares of Unusual Machines during the 1st quarter worth about $496,000. Finally, Cetera Investment Advisers boosted its stake in shares of Unusual Machines by 23.1% during the 1st quarter. Cetera Investment Advisers now owns 17,884 shares of the company’s stock worth $222,000 after acquiring an additional 3,353 shares in 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.