Insider Selling: Unusual Machines (NYSEAMERICAN:UMAC) CFO Sells $212,167.67 in Stock

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) CFO Brian Joseph Hoff sold 11,413 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $18.59, for a total transaction of $212,167.67. Following the completion of the transaction, the chief financial officer directly owned 514,062 shares in the company, valued at $9,556,412.58. This represents a 2.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Unusual Machines Stock Down 7.5%

Shares of UMAC stock opened at $18.60 on Friday. The company has a market cap of $723.35 million, a P/E ratio of -22.14 and a beta of 22.23. The business has a 50 day moving average of $15.49 and a two-hundred day moving average of $13.10. Unusual Machines, Inc. has a 52 week low of $4.45 and a 52 week high of $23.38.

Analyst Ratings Changes

A number of research analysts recently commented on UMAC shares. JonesTrading assumed coverage on Unusual Machines in a research note on Monday, December 1st. They set a “buy” rating and a $20.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 target price on shares of Unusual Machines in a research note on Monday, March 9th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $20.00.

Institutional Investors Weigh In On Unusual Machines

Several large investors have recently made changes to their positions in UMAC. Connective Capital Management LLC bought a new stake in shares of Unusual Machines during the second quarter valued at approximately $636,000. BlueCrest Capital Management Ltd bought a new position in Unusual Machines in the 3rd quarter worth approximately $2,168,000. Allworth Financial LP bought a new position in Unusual Machines in the 2nd quarter worth approximately $125,000. Kieckhefer Group LLC increased its position in Unusual Machines by 330.6% in the 3rd quarter. Kieckhefer Group LLC now owns 62,000 shares of the company’s stock valued at $936,000 after acquiring an additional 47,600 shares during the period. Finally, Bluefin Capital Management LLC bought a new stake in Unusual Machines during the 2nd quarter valued at $166,000.

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.