Andrew Ross Camden Sells 9,625 Shares of Unusual Machines (NYSEAMERICAN:UMAC) Stock

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) President Andrew Ross Camden sold 9,625 shares of Unusual Machines stock in a transaction on Monday, March 16th. The stock was sold at an average price of $18.57, for a total value of $178,736.25. Following the completion of the transaction, the president owned 356,375 shares in the company, valued at $6,617,883.75. The trade was a 2.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Unusual Machines Trading Up 12.4%

Shares of Unusual Machines stock traded up $2.30 on Tuesday, reaching $20.91. 4,634,881 shares of the company were exchanged, compared to its average volume of 4,060,057. Unusual Machines, Inc. has a fifty-two week low of $4.45 and a fifty-two week high of $23.38. The firm has a market capitalization of $813.19 million, a price-to-earnings ratio of -24.89 and a beta of 22.20. The stock has a fifty day moving average price of $15.21 and a 200-day moving average price of $12.93.

Analyst Upgrades and Downgrades

UMAC has been the topic of several recent analyst reports. JonesTrading started 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. Needham & Company LLC reissued a “buy” rating and issued a $20.00 target price on shares of Unusual Machines in a research report on Monday, March 9th. Finally, ThinkEquity upgraded shares of Unusual Machines to a “strong-buy” rating in a report on Monday, November 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $20.00.

Institutional Trading of Unusual Machines

Several institutional investors have recently made changes to their positions in the stock. Jones Financial Companies Lllp boosted its holdings in shares of Unusual Machines by 67.7% during the third quarter. Jones Financial Companies Lllp now owns 3,017 shares of the company’s stock worth $46,000 after purchasing an additional 1,218 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in 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 valued at $148,000 after buying an additional 2,116 shares during the period. Rockefeller Capital Management L.P. increased its stake 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 valued at $79,000 after buying an additional 2,169 shares during the period. Ameritas Advisory Services LLC purchased a new stake in Unusual Machines in the 3rd quarter worth approximately $38,000. Finally, Wexford Capital LP purchased a new stake in Unusual Machines in the 3rd quarter worth approximately $40,000.

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.