Unusual Machines (NYSEAMERICAN:UMAC) CRO Stacy Rochelle Wright Sells 27,500 Shares of Stock

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) CRO Stacy Rochelle Wright sold 27,500 shares of the company’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $26.00, for a total transaction of $715,000.00. Following the transaction, the executive owned 68,750 shares in the company, valued at $1,787,500. This represents a 28.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Unusual Machines Price Performance

UMAC stock opened at $27.43 on Friday. The stock has a market capitalization of $1.37 billion, a PE ratio of -105.50 and a beta of 14.92. The company’s 50-day moving average is $22.62 and its 200-day moving average is $18.61. Unusual Machines, Inc. has a 1 year low of $7.24 and a 1 year high of $34.93.

Unusual Machines (NYSEAMERICAN:UMAC) last issued its earnings results on Thursday, August 6th. The company reported ($0.16) EPS for the quarter, meeting analysts’ consensus estimates of ($0.16). Unusual Machines had a negative return on equity of 7.62% and a negative net margin of 20.29%.The business had revenue of $16.72 million during the quarter, compared to analyst estimates of $9.20 million. On average, analysts anticipate that Unusual Machines, Inc. will post -0.67 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Unusual Machines

Hedge funds have recently added to or reduced their stakes in the stock. NFSG Corp purchased a new stake in shares of Unusual Machines in the first quarter worth approximately $37,000. Wexford Capital LP bought a new position in shares of Unusual Machines in the third quarter valued at approximately $40,000. Bank of America Corp DE boosted its position in shares of Unusual Machines by 7,372.6% during the second quarter. Bank of America Corp DE now owns 7,099 shares of the company’s stock valued at $61,000 after buying an additional 7,004 shares during the last quarter. Ankerstar Wealth LLC purchased a new position in shares of Unusual Machines during the fourth quarter valued at approximately $64,000. Finally, Rockefeller Capital Management L.P. grew its holdings in Unusual Machines by 54.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 6,169 shares of the company’s stock worth $79,000 after buying an additional 2,169 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Roth Capital upped their target price on Unusual Machines to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. HC Wainwright assumed coverage on shares of Unusual Machines in a research report on Wednesday, July 15th. They issued a “buy” rating and a $42.00 price target for the company. ThinkEquity reissued a “buy” rating on shares of Unusual Machines in a research report on Monday. National Bank Financial set a $42.00 price target on shares of Unusual Machines in a research note on Wednesday, July 15th. Finally, Piper Sandler started coverage on shares of Unusual Machines in a report on Wednesday, August 12th. They set an “overweight” rating and a $38.00 price objective on the stock. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.00.

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.