Andrew Ross Camden Sells 9,625 Shares of Unusual Machines (NYSEAMERICAN:UMAC) Stock

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) President Andrew Ross Camden sold 9,625 shares of the company’s 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 sale, the president owned 237,125 shares of the company’s stock, valued at approximately $6,167,621.25. This trade represents a 3.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Andrew Ross Camden also recently made the following trade(s):

• On Thursday, June 4th, Andrew Ross Camden sold 100,000 shares of Unusual Machines stock. The stock was sold at an average price of $30.05, for a total value of $3,005,000.00.

Unusual Machines Stock Up 5.6%

Unusual Machines stock opened at $27.43 on Friday. Unusual Machines, Inc. has a 52-week low of $7.24 and a 52-week high of $34.93. The company has a market cap of $1.37 billion, a P/E ratio of -105.50 and a beta of 14.92. The business has a 50-day simple moving average of $22.62 and a two-hundred day simple moving average of $18.61.

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on UMAC. Roth Capital upped their price objective on Unusual Machines to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. 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 for the company. Needham & Company LLC raised 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, August 6th. National Bank Financial set a $42.00 price objective on Unusual Machines in a research report on Wednesday, July 15th. Finally, ThinkEquity reissued a “buy” rating on shares of Unusual Machines in a report on Monday, August 17th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

Institutional Investors Weigh In On Unusual Machines

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC raised its holdings in Unusual Machines by 89.1% during the second quarter. Geode Capital Management LLC now owns 222,927 shares of the company’s stock valued at $1,911,000 after acquiring an additional 105,020 shares during the period. Jump Financial LLC bought a new position in shares of Unusual Machines in the second quarter worth about $1,251,000. Bank of America Corp DE boosted its stake in shares of Unusual Machines by 7,372.6% in the second quarter. Bank of America Corp DE now owns 7,099 shares of the company’s stock worth $61,000 after acquiring an additional 7,004 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Unusual Machines by 4,639.7% during the second quarter. Tower Research Capital LLC TRC now owns 13,366 shares of the company’s stock worth $115,000 after purchasing an additional 13,084 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Unusual Machines by 13.3% during the third quarter. Vanguard Group Inc. now owns 1,162,795 shares of the company’s stock worth $17,558,000 after purchasing an additional 136,696 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.