Unusual Machines (NYSEAMERICAN:UMAC) Trading Down 8.7% – Should You Sell?

Unusual Machines, Inc. (NYSEAMERICAN:UMAC)’s share price dropped 8.7% during mid-day trading on Monday . The company traded as low as $14.71 and last traded at $14.79. Approximately 1,630,310 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 4,234,879 shares. The stock had previously closed at $16.20.

Analyst Ratings Changes

UMAC has been the subject of a number of recent research reports. Needham & Company LLC boosted their target price on shares of Unusual Machines from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Friday. Roth Mkm began coverage on shares of Unusual Machines in a research report on Wednesday, May 13th. They set a “buy” rating and a $25.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $22.33.

Unusual Machines Stock Down 12.8%

The stock has a market cap of $674.79 million, a price-to-earnings ratio of -33.62 and a beta of 14.32. The company has a 50 day simple moving average of $15.29 and a 200 day simple moving average of $13.54.

Unusual Machines (NYSEAMERICAN:UMAC) last issued its earnings results on Thursday, May 14th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.15). The business had revenue of $8.10 million for the quarter, compared to analyst estimates of $5.54 million. Unusual Machines had a negative return on equity of 11.83% and a negative net margin of 32.71%. As a group, analysts predict that Unusual Machines, Inc. will post -0.28 earnings per share for the current fiscal year.

Insider Activity

In other news, President Andrew Ross Camden sold 9,625 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $6,617,883.75. This represents a 2.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CRO Stacy Rochelle Wright sold 13,750 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $18.57, for a total value of $255,337.50. Following the completion of the transaction, the executive directly owned 96,250 shares of the company’s stock, valued at $1,787,362.50. This represents a 12.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 35,768 shares of company stock valued at $666,037 over the last quarter. 7.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Ameritas Advisory Services LLC acquired a new position in shares of Unusual Machines in the third quarter valued at approximately $38,000. Wexford Capital LP acquired a new stake in Unusual Machines during the 3rd quarter valued at approximately $40,000. NFSG Corp acquired a new stake in Unusual Machines during the 1st quarter valued at approximately $37,000. Jones Financial Companies Lllp increased its position in 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 period. Finally, Ankerstar Wealth LLC acquired a new stake in Unusual Machines during the 4th quarter valued at approximately $64,000.

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.