Unusual Machines, Inc. (UMAC) – What Are Brokerages Saying About This Stock?

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) has been assigned an average rating of “Buy” from the six research firms that are presently covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a buy recommendation. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $37.00.

UMAC has been the topic of several research analyst reports. Piper Sandler began coverage on shares of Unusual Machines in a report on Wednesday, August 12th. They set an “overweight” rating and a $38.00 price target on the stock. National Bank Financial set a $42.00 price objective on shares of Unusual Machines in a research report on Wednesday, July 15th. ThinkEquity reiterated a “buy” rating on shares of Unusual Machines in a research note on Monday, August 17th. HC Wainwright started coverage on shares of Unusual Machines in a research report on Wednesday, July 15th. They issued a “buy” rating and a $42.00 target price for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Unusual Machines in a research note on Wednesday, October 7th.

Insiders Place Their Bets

In other Unusual Machines news, CRO Stacy Rochelle Wright sold 27,500 shares of the business’s 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 $1,787,500. The trade was a 28.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Joseph Hoff sold 11,413 shares of the company’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $26.01, for a total value of $296,852.13. Following the sale, the chief financial officer owned 341,237 shares of the company’s stock, valued at approximately $8,875,574.37. This trade represents a 3.24% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 48,538 shares of company stock valued at $1,262,198 over the last quarter. Insiders own 4.87% of the company’s stock.

Hedge Funds Weigh In On Unusual Machines

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Baird Financial Group Inc. raised its position in shares of Unusual Machines by 3.7% in the second quarter. Baird Financial Group Inc. now owns 21,250 shares of the company’s stock valued at $474,000 after purchasing an additional 750 shares during the period. IFC & Insurance Marketing Inc. boosted its holdings in shares of Unusual Machines by 9.2% during the 3rd quarter. IFC & Insurance Marketing Inc. now owns 15,445 shares of the company’s stock worth $378,000 after buying an additional 1,305 shares during the period. Sterling Capital Management LLC boosted its holdings in shares of Unusual Machines by 845.0% during the 3rd quarter. Sterling Capital Management LLC now owns 1,512 shares of the company’s stock worth $37,000 after buying an additional 1,352 shares during the period. IFP Advisors Inc grew its stake in Unusual Machines by 281.4% in the 2nd quarter. IFP Advisors Inc now owns 2,033 shares of the company’s stock valued at $45,000 after buying an additional 1,500 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew 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 valued at $79,000 after buying an additional 2,169 shares during the last quarter.

Unusual Machines Trading Down 4.2%

NYSEAMERICAN:UMAC opened at $16.27 on Friday. The firm has a market capitalization of $812.85 million, a price-to-earnings ratio of -62.58 and a beta of 14.80. Unusual Machines has a 1-year low of $7.24 and a 1-year high of $34.93. The business’s fifty day moving average price is $23.10 and its 200 day moving average price is $20.97.

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

Unusual Machines Company Profile

Unusual Machines, Inc develops, manufactures and sells unmanned aircraft systems and components, with a focus on first-person-view (FPV) drones. Its product offerings include complete drones, motors, propellers, frames, flight controllers and other replacement parts used by recreational pilots, commercial operators and drone builders.

The company also markets FPV-related electronics and accessories, including video equipment and goggles. Its portfolio has included the Rotor Riot and Fat Shark brands, which are associated with FPV drones, pilot content and immersive flight products.