Unusual Machines (NYSEAMERICAN:UMAC) Announces Quarterly Earnings Results

Unusual Machines (NYSEAMERICAN:UMAC) posted its quarterly earnings results on Monday. The company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.31), FiscalAI reports. The firm had revenue of $4.90 million for the quarter, compared to analysts’ expectations of $3.59 million. Unusual Machines had a negative return on equity of 25.59% and a negative net margin of 430.40%.

Unusual Machines Price Performance

Shares of UMAC stock opened at $17.42 on Monday. The company has a fifty day moving average price of $14.44 and a two-hundred day moving average price of $12.56. Unusual Machines has a one year low of $4.45 and a one year high of $20.15. The stock has a market cap of $642.45 million, a P/E ratio of -4.72 and a beta of 22.20.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. ThinkEquity raised shares of Unusual Machines to a “strong-buy” rating in a research report on Monday, November 17th. JonesTrading initiated coverage on Unusual Machines in a report on Monday, December 1st. They set a “buy” rating and a $20.00 price objective on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $20.00 price objective on shares of Unusual Machines in a research report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $20.00.

Institutional Trading of Unusual Machines

Several hedge funds and other institutional investors have recently made changes to their positions in UMAC. Mercer Global Advisors Inc. ADV bought a new position in shares of Unusual Machines in the fourth quarter valued at $1,289,000. Vident Advisory LLC bought a new stake in Unusual Machines during the fourth quarter worth $1,015,000. Concentric Capital Strategies LP purchased a new stake in Unusual Machines during the fourth quarter worth about $2,052,000. Bridgeway Capital Management LLC bought a new stake in Unusual Machines in the fourth quarter worth about $127,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in Unusual Machines in the fourth quarter worth about $189,000.

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.