Stacy Rochelle Wright Sells 27,500 Shares of Unusual Machines (NYSEAMERICAN:UMAC) Stock

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) CRO Stacy Rochelle Wright sold 27,500 shares of Unusual Machines stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $26.00, for a total value of $715,000.00. Following the completion of the sale, the executive owned 68,750 shares of the company’s stock, valued at approximately $1,787,500. The trade was a 28.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Unusual Machines Stock Performance

NYSEAMERICAN:UMAC traded up $1.45 on Friday, hitting $27.43. 4,109,912 shares of the stock were exchanged, compared to its average volume of 5,025,907. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of -105.50 and a beta of 14.92. Unusual Machines, Inc. has a 52 week low of $7.24 and a 52 week high of $34.93. The company’s 50-day moving average price is $22.56 and its 200 day moving average price is $18.55.

Unusual Machines (NYSEAMERICAN:UMAC) last issued its earnings results on Thursday, August 6th. The company reported ($0.16) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.16). Unusual Machines had a negative net margin of 20.29% and a negative return on equity of 7.62%. The company had revenue of $16.72 million for the quarter, compared to analyst estimates of $9.20 million. As a group, equities research analysts predict that Unusual Machines, Inc. will post -0.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on UMAC. Piper Sandler started coverage on shares of Unusual Machines in a research note on Wednesday, August 12th. They issued an “overweight” rating and a $38.00 price objective on the stock. National Bank Financial set a $42.00 price target on Unusual Machines in a research note on Wednesday, July 15th. HC Wainwright assumed coverage on Unusual Machines in a research report on Wednesday, July 15th. They issued a “buy” rating and a $42.00 price target on the stock. Roth Capital raised their price target on Unusual Machines to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Finally, ThinkEquity reaffirmed a “buy” rating on shares of Unusual Machines in a research note on Monday. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Unusual Machines presently has a consensus rating of “Moderate Buy” and an average price target of $37.00.

Institutional Trading of Unusual Machines

A number of large investors have recently made changes to their positions in the company. NFSG Corp bought a new stake in shares of Unusual Machines during the first quarter worth $37,000. Wexford Capital LP bought a new stake in Unusual Machines in the 3rd quarter valued at $40,000. Bank of America Corp DE lifted its position in Unusual Machines by 7,372.6% in the 2nd quarter. Bank of America Corp DE now owns 7,099 shares of the company’s stock valued at $61,000 after acquiring an additional 7,004 shares in the last quarter. Ankerstar Wealth LLC acquired a new position in Unusual Machines in the 4th quarter worth $64,000. Finally, Rockefeller Capital Management L.P. boosted its stake 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 worth $79,000 after purchasing an additional 2,169 shares during the period.

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.