Unusual Machines (NYSEAMERICAN:UMAC) Director Jeffrey Thompson Sells 15,000 Shares of Stock

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) Director Jeffrey Thompson sold 15,000 shares of Unusual Machines stock in a transaction on Friday, June 5th. The stock was sold at an average price of $26.96, for a total value of $404,400.00. Following the transaction, the director directly owned 4,794,392 shares of the company’s stock, valued at $129,256,808.32. This trade represents a 0.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Unusual Machines Stock Down 7.5%

NYSEAMERICAN:UMAC opened at $23.90 on Wednesday. The company has a market capitalization of $1.14 billion, a PE ratio of -56.90 and a beta of 14.62. Unusual Machines, Inc. has a 52-week low of $7.24 and a 52-week high of $34.36. The stock has a fifty day simple moving average of $17.17 and a 200-day simple moving average of $14.88.

Unusual Machines (NYSEAMERICAN:UMAC) last released its quarterly earnings results on Thursday, May 14th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.15). The firm 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, equities analysts anticipate that Unusual Machines, Inc. will post -0.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on UMAC. Roth Mkm lifted their price target on Unusual Machines to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Needham & Company LLC lifted their price objective on Unusual Machines from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. 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. According to MarketBeat.com, Unusual Machines currently has an average rating of “Buy” and an average target price of $27.33.

Institutional Trading of Unusual Machines

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tudor Investment Corp ET AL increased its position in Unusual Machines by 201.0% during the 3rd quarter. Tudor Investment Corp ET AL now owns 1,207,460 shares of the company’s stock worth $18,233,000 after purchasing an additional 806,359 shares in the last quarter. Vanguard Group Inc. increased its position in Unusual Machines by 13.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,162,795 shares of the company’s stock worth $17,558,000 after purchasing an additional 136,696 shares in the last quarter. Granahan Investment Management LLC purchased a new stake in Unusual Machines during the 4th quarter worth about $14,708,000. State Street Corp increased its position in Unusual Machines by 698.4% during the 4th quarter. State Street Corp now owns 966,184 shares of the company’s stock worth $12,309,000 after purchasing an additional 845,173 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Unusual Machines by 29.5% during the 4th quarter. Geode Capital Management LLC now owns 359,883 shares of the company’s stock worth $4,587,000 after purchasing an additional 81,883 shares in 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.