Unusual Machines, Inc. (NYSEAMERICAN:UMAC) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Unusual Machines, Inc. (NYSEAMERICAN:UMAC) have received an average rating of “Moderate Buy” from the seven analysts that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $37.00.

UMAC has been the topic of several research reports. Piper Sandler initiated coverage on shares of Unusual Machines in a research report on Wednesday, August 12th. They issued an “overweight” rating and a $38.00 price objective on the stock. HC Wainwright started coverage on shares of Unusual Machines in a research note on Wednesday, July 15th. They set a “buy” rating and a $42.00 price target for the company. National Bank Financial set a $42.00 price target on shares of Unusual Machines in a report on Wednesday, July 15th. Roth Capital upped their price objective on Unusual Machines to $40.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Finally, Needham & Company LLC upped their price objective on Unusual Machines from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, August 6th.

Unusual Machines Price Performance

Shares of Unusual Machines stock opened at $24.32 on Thursday. Unusual Machines has a 1 year low of $7.24 and a 1 year high of $34.93. The firm has a market cap of $1.22 billion, a PE ratio of -93.54 and a beta of 14.78. The stock has a fifty day moving average price of $23.12 and a 200-day moving average price of $19.69.

Unusual Machines (NYSEAMERICAN:UMAC) last released its earnings results on Thursday, August 6th. The company reported ($0.16) EPS for the quarter, hitting analysts’ consensus estimates of ($0.16). The company had revenue of $16.72 million for the quarter, compared to analysts’ expectations of $9.20 million. Unusual Machines had a negative return on equity of 7.62% and a negative net margin of 20.29%. As a group, equities analysts anticipate that Unusual Machines will post -0.67 EPS for the current fiscal year.

Insider Buying and Selling at Unusual Machines

In other Unusual Machines news, CFO Brian Joseph Hoff sold 11,413 shares of the business’s stock in a transaction on 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 directly owned 341,237 shares in the company, valued at $8,875,574.37. The trade was a 3.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Andrew Ross Camden sold 9,625 shares of the company’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $26.01, for a total transaction of $250,346.25. Following the sale, the president directly owned 237,125 shares in the company, valued at approximately $6,167,621.25. This trade represents a 3.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 48,538 shares of company stock worth $1,262,198 over the last ninety days. 4.87% of the stock is currently owned by company insiders.

Institutional Trading of Unusual Machines

A number of institutional investors have recently modified their holdings of the business. Integrated Wealth Concepts LLC purchased a new position in Unusual Machines in the 2nd quarter valued at approximately $52,000. IFP Advisors Inc raised its holdings in Unusual Machines by 281.4% during the 2nd quarter. IFP Advisors Inc now owns 2,033 shares of the company’s stock valued at $45,000 after acquiring an additional 1,500 shares during the period. Squarepoint Ops LLC purchased a new stake in shares of Unusual Machines during the second quarter worth $4,872,000. Baird Financial Group Inc. lifted its position in shares of Unusual Machines by 3.7% during the second quarter. Baird Financial Group Inc. now owns 21,250 shares of the company’s stock worth $474,000 after acquiring an additional 750 shares in the last quarter. Finally, California State Teachers Retirement System bought a new position in shares of Unusual Machines in the second quarter worth $313,000.

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.