Unusual Machines (NYSEAMERICAN:UMAC) Director Sells $19,796.00 in Stock

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) Director Sanford Rich sold 980 shares of the company’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $20.20, for a total transaction of $19,796.00. Following the completion of the sale, the director directly owned 205,925 shares in the company, valued at $4,159,685. This trade represents a 0.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Sanford Rich also recently made the following trade(s):

• On Monday, December 29th, Sanford Rich sold 11,087 shares of Unusual Machines stock. The stock was sold at an average price of $1.99, for a total value of $22,063.13.

Unusual Machines Stock Performance

UMAC stock opened at $18.60 on Friday. The stock’s 50 day moving average price is $15.49 and its 200 day moving average price is $13.10. The firm has a market cap of $723.35 million, a P/E ratio of -22.14 and a beta of 22.23. Unusual Machines, Inc. has a 1 year low of $4.45 and a 1 year high of $23.38.

Analyst Ratings Changes

Several research analysts recently weighed in on UMAC shares. JonesTrading initiated coverage on shares of Unusual Machines in a research note on Monday, December 1st. They issued a “buy” rating and a $20.00 target price for the company. Needham & Company LLC reissued a “buy” rating and set a $20.00 price objective on shares of Unusual Machines in a research note on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $20.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Connective Capital Management LLC purchased a new stake in Unusual Machines in the second quarter valued at approximately $636,000. BlueCrest Capital Management Ltd acquired a new position in shares of Unusual Machines in the 3rd quarter valued at $2,168,000. Allworth Financial LP purchased a new stake in shares of Unusual Machines during the 2nd quarter valued at $125,000. Kieckhefer Group LLC increased its holdings in shares of Unusual Machines by 330.6% during the 3rd quarter. Kieckhefer Group LLC now owns 62,000 shares of the company’s stock worth $936,000 after buying an additional 47,600 shares during the last quarter. Finally, FNY Investment Advisers LLC raised its position in shares of Unusual Machines by 165.1% in the 3rd quarter. FNY Investment Advisers LLC now owns 30,501 shares of the company’s stock worth $460,000 after buying an additional 18,995 shares during the period.

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.