Unusual Machines (NYSEAMERICAN:UMAC) Trading 10.7% Higher – What’s Next?

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) traded up 10.7% during mid-day trading on Monday . The stock traded as high as $15.07 and last traded at $14.85. 1,561,136 shares were traded during mid-day trading, a decline of 63% from the average session volume of 4,163,499 shares. The stock had previously closed at $13.42.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Roth Mkm assumed coverage on shares of Unusual Machines in a research note on Wednesday. They issued a “buy” rating and a $25.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 target price on shares of Unusual Machines in a research note on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $21.67.

Unusual Machines Trading Up 6.0%

The stock’s fifty day moving average price is $15.18 and its 200 day moving average price is $13.48. The stock has a market cap of $583.23 million, a P/E ratio of -17.82 and a beta of 14.32.

Insider Transactions at Unusual Machines

In other news, President Andrew Ross Camden sold 9,625 shares of the stock in a transaction on Monday, March 16th. The shares were sold at an average price of $18.57, for a total value of $178,736.25. Following the transaction, the president owned 356,375 shares of the company’s stock, valued at $6,617,883.75. This represents a 2.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CRO Stacy Rochelle Wright sold 13,750 shares of the stock in a transaction on Monday, March 16th. The shares were sold at an average price of $18.57, for a total transaction of $255,337.50. Following the transaction, the executive directly owned 96,250 shares in the company, valued at approximately $1,787,362.50. This represents a 12.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 35,768 shares of company stock valued at $666,037 in the last quarter. Insiders own 7.50% of the company’s stock.

Hedge Funds Weigh In On Unusual Machines

Institutional investors and hedge funds have recently made changes to their positions in the business. NFSG Corp bought a new position in shares of Unusual Machines during the 1st quarter valued at $37,000. Ameritas Advisory Services LLC bought a new position in shares of Unusual Machines during the 3rd quarter valued at $38,000. Wexford Capital LP bought a new position in shares of Unusual Machines during the 3rd quarter valued at $40,000. Jones Financial Companies Lllp grew its holdings in shares of Unusual Machines by 67.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 3,017 shares of the company’s stock valued at $46,000 after purchasing an additional 1,218 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Unusual Machines by 7,372.6% during the 2nd quarter. Bank of America Corp DE now owns 7,099 shares of the company’s stock valued at $61,000 after purchasing an additional 7,004 shares during the last quarter.

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.