Unusual Machines, Inc. (NYSEAMERICAN:UMAC) Given Average Recommendation of “Buy” by Brokerages

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) has earned an average recommendation of “Buy” from the six analysts that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $36.80.

Several analysts recently issued reports on the company. National Bank Financial set a $42.00 price target on Unusual Machines in a report on Wednesday, July 15th. Needham & Company LLC upped their price objective on Unusual Machines from $30.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday. HC Wainwright initiated coverage on Unusual Machines in a research report on Wednesday, July 15th. They issued a “buy” rating and a $42.00 target price on the stock. Finally, Roth Capital boosted 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.

Unusual Machines Stock Up 7.8%

UMAC opened at $26.11 on Friday. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of -100.42 and a beta of 14.92. Unusual Machines has a fifty-two week low of $7.24 and a fifty-two week high of $34.36. The company’s 50-day moving average price is $22.41 and its 200 day moving average price is $17.78.

Unusual Machines (NYSEAMERICAN:UMAC) last issued its earnings results on Thursday, August 6th. The company reported ($0.16) EPS for the quarter, meeting analysts’ consensus estimates of ($0.16). The company had revenue of $16.72 million during the quarter, compared to the consensus estimate of $9.20 million. Unusual Machines had a negative return on equity of 9.33% and a negative net margin of 20.29%. Research analysts anticipate that Unusual Machines will post -0.72 earnings per share for the current year.

Insider Buying and Selling

In other Unusual Machines news, Director Jeffrey M. Thompson sold 15,000 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were 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. The trade was a 0.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Andrew Ross Camden sold 100,000 shares of the company’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $30.05, for a total transaction of $3,005,000.00. Following the completion of the transaction, the president owned 246,750 shares of the company’s stock, valued at approximately $7,414,837.50. This trade represents a 28.84% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 280,000 shares of company stock valued at $6,477,200 in the last quarter. Company insiders own 7.50% of the company’s stock.

Hedge Funds Weigh In On Unusual Machines

Several hedge funds and other institutional investors have recently made changes to their positions in UMAC. Caitong International Asset Management Co. Ltd grew 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 worth $148,000 after buying an additional 2,116 shares in the last quarter. Rockefeller Capital Management L.P. increased its position 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 acquiring an additional 2,169 shares during the period. Wexford Capital LP bought a new stake in Unusual Machines during the 3rd quarter valued at $40,000. NFSG Corp acquired a new position in Unusual Machines during the 1st quarter worth $37,000. Finally, IFC & Insurance Marketing Inc. boosted its position in Unusual Machines by 43.6% during the 1st quarter. IFC & Insurance Marketing Inc. now owns 10,821 shares of the company’s stock worth $134,000 after acquiring an additional 3,283 shares during the period.

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.