Insider Selling: Unusual Machines (NYSEAMERICAN:UMAC) CRO Sells 13,750 Shares of Stock

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) CRO Stacy Rochelle Wright sold 13,750 shares of Unusual Machines stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $18.57, for a total transaction of $255,337.50. Following the sale, the executive owned 96,250 shares of the company’s stock, valued at approximately $1,787,362.50. The trade was a 12.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Unusual Machines Price Performance

UMAC stock traded up $2.30 during mid-day trading on Tuesday, hitting $20.91. 4,634,881 shares of the stock were exchanged, compared to its average volume of 4,060,057. The business has a fifty day moving average price of $15.21 and a 200 day moving average price of $12.93. Unusual Machines, Inc. has a 12 month low of $4.45 and a 12 month high of $23.38. The stock has a market capitalization of $813.19 million, a price-to-earnings ratio of -24.89 and a beta of 22.20.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. raised its holdings 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 in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of 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 purchasing an additional 2,116 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in shares of Unusual Machines during the 4th quarter valued at about $1,289,000. Vident Advisory LLC bought a new stake in shares of Unusual Machines during the 4th quarter valued at about $1,015,000. Finally, Concentric Capital Strategies LP purchased a new position in shares of Unusual Machines during the fourth quarter valued at about $2,052,000.

Analysts Set New Price Targets

UMAC has been the topic of several recent analyst reports. JonesTrading assumed coverage on shares of Unusual Machines in a report on Monday, December 1st. They issued a “buy” rating and a $20.00 target price on the stock. Needham & Company LLC reissued a “buy” rating and set a $20.00 price target on shares of Unusual Machines in a research report on Monday, March 9th. Finally, ThinkEquity raised shares of Unusual Machines to a “strong-buy” rating in a report on Monday, November 17th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $20.00.

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.