Insider Selling: Unusual Machines (NYSEAMERICAN:UMAC) Director Sells 15,000 Shares of Stock

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) Director Jeffrey Thompson sold 15,000 shares of Unusual Machines stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $26.96, for a total value of $404,400.00. Following the completion of the sale, the director directly owned 4,794,392 shares in the company, valued at $129,256,808.32. This represents a 0.31% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Unusual Machines Stock Performance

NYSEAMERICAN UMAC traded down $1.95 on Tuesday, hitting $23.90. 6,258,578 shares of the company’s stock were exchanged, compared to its average volume of 9,437,249. The firm’s 50-day moving average price is $17.17 and its two-hundred day moving average price is $14.88. Unusual Machines, Inc. has a fifty-two week low of $7.24 and a fifty-two week high of $34.36.

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

Institutional Trading of Unusual Machines

A number of institutional investors have recently bought and sold shares of the company. BlueCrest Capital Management Ltd acquired a new position in Unusual Machines during the third quarter worth about $2,168,000. Tudor Investment Corp ET AL grew its position in shares of Unusual Machines by 201.0% in the third quarter. Tudor Investment Corp ET AL now owns 1,207,460 shares of the company’s stock valued at $18,233,000 after purchasing an additional 806,359 shares during the last quarter. FNY Investment Advisers LLC increased its stake in shares of Unusual Machines by 293.4% during the 4th quarter. FNY Investment Advisers LLC now owns 120,001 shares of the company’s stock worth $1,528,000 after purchasing an additional 89,500 shares in the last quarter. Moody National Bank Trust Division purchased a new position in shares of Unusual Machines during the 4th quarter worth approximately $549,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Unusual Machines during the 4th quarter worth approximately $1,776,000.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on UMAC. Roth Mkm increased their price target on shares of Unusual Machines to $40.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Needham & Company LLC boosted their price objective on shares of Unusual Machines from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $27.33.

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.