Unusual Machines, Inc. (NYSEAMERICAN:UMAC) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) has earned a consensus recommendation of “Moderate Buy” from the seven analysts that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $37.00.

A number of equities research analysts have recently issued reports on UMAC shares. ThinkEquity reissued a “buy” rating on shares of Unusual Machines in a report on Monday, August 17th. Piper Sandler assumed coverage on shares of Unusual Machines in a research note on Wednesday, August 12th. They issued an “overweight” rating and a $38.00 target price on the stock. National Bank Financial set a $42.00 price target on shares of Unusual Machines in a research report on Wednesday, July 15th. Needham & Company LLC increased their price objective on Unusual Machines from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, HC Wainwright began coverage on Unusual Machines in a research report on Wednesday, July 15th. They set a “buy” rating and a $42.00 target price for the company.

Unusual Machines Price Performance

Shares of UMAC stock opened at $22.37 on Monday. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of -86.04 and a beta of 14.80. The company’s fifty day simple moving average is $24.44 and its two-hundred day simple moving average is $20.56. Unusual Machines has a 1 year low of $7.24 and a 1 year high of $34.93.

Unusual Machines (NYSEAMERICAN:UMAC) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.16) earnings per share for the quarter, meeting the consensus estimate of ($0.16). Unusual Machines had a negative return on equity of 7.62% and a negative net margin of 20.29%.The company had revenue of $16.72 million during the quarter, compared to analysts’ expectations of $9.20 million. Equities research analysts anticipate that Unusual Machines will post -0.67 EPS for the current year.

Insider Buying and Selling

In other news, President Andrew Ross Camden sold 9,625 shares of the stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $26.01, for a total value of $250,346.25. Following the transaction, the president owned 237,125 shares of the company’s stock, valued at $6,167,621.25. This represents a 3.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Joseph Hoff sold 11,413 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $26.01, for a total transaction of $296,852.13. Following the completion of the transaction, the chief financial officer directly owned 341,237 shares in the company, valued at $8,875,574.37. The trade was a 3.24% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 48,538 shares of company stock worth $1,262,198. Insiders own 4.87% of the company’s stock.

Institutional Trading of Unusual Machines

Hedge funds have recently made changes to their positions in the stock. Baird Financial Group Inc. raised its holdings in shares of Unusual Machines by 3.7% during the 2nd quarter. Baird Financial Group Inc. now owns 21,250 shares of the company’s stock valued at $474,000 after buying an additional 750 shares in the last quarter. IFP Advisors Inc boosted its stake in Unusual Machines by 281.4% in the second quarter. IFP Advisors Inc now owns 2,033 shares of the company’s stock worth $45,000 after buying an additional 1,500 shares in the last quarter. Caitong International Asset Management Co. Ltd grew 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 acquiring an additional 2,116 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in Unusual Machines by 54.2% during 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 last quarter. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of Unusual Machines during the second quarter worth approximately $52,000.

Unusual Machines Company Profile

Unusual Machines, Inc develops, manufactures and sells components and systems for drones, with a focus on first-person-view (FPV) aircraft and other small unmanned aerial systems. Its product offerings include drone motors, propellers, flight controllers, frames and related electronic components used by recreational, commercial and government customers.

The company also markets and distributes FPV drone products through its Rotor Riot brand, which serves the FPV community with aircraft, equipment, accessories and related content.