Unusual Machines, Inc. (NYSEAMERICAN:UMAC) Stock Has Average Price Target of $37.00

Shares of Unusual Machines, Inc. (NYSEAMERICAN:UMAC) have been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $37.00.

A number of equities analysts have weighed in on the company. Piper Sandler initiated coverage on Unusual Machines in a report on Wednesday, August 12th. They issued an “overweight” rating and a $38.00 price target for the company. ThinkEquity reiterated a “buy” rating on shares of Unusual Machines in a research note on Monday, August 17th. Needham & Company LLC boosted their target price on shares of Unusual Machines from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. National Bank Financial set a $42.00 target price on shares of Unusual Machines in a research note on Wednesday, July 15th. Finally, HC Wainwright initiated coverage on shares of Unusual Machines in a report on Wednesday, July 15th. They set a “buy” rating and a $42.00 price target for the company.

Insider Buying and Selling at Unusual Machines

In other news, President Andrew Ross Camden sold 9,625 shares of Unusual Machines stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $26.01, for a total transaction of $250,346.25. Following the sale, the president directly owned 237,125 shares of the company’s stock, valued at approximately $6,167,621.25. The trade was a 3.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Joseph Hoff sold 11,413 shares of the business’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $26.01, for a total value of $296,852.13. Following the completion of the transaction, the chief financial officer owned 341,237 shares in the company, valued at approximately $8,875,574.37. This trade represents a 3.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 48,538 shares of company stock valued at $1,262,198 in the last ninety days. Insiders own 4.87% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of UMAC. Granahan Investment Management LLC purchased a new stake in Unusual Machines during the 4th quarter worth approximately $14,708,000. Wasatch Advisors LP bought a new stake in shares of Unusual Machines in the second quarter worth $8,087,000. Squarepoint Ops LLC bought a new stake in shares of Unusual Machines in the second quarter worth $4,872,000. Bank of New York Mellon Corp acquired a new stake in Unusual Machines in the second quarter valued at $2,999,000. Finally, Yorkville Advisors Global LP acquired a new stake in Unusual Machines in the first quarter valued at $1,692,000.

Unusual Machines Trading Down 1.8%

Shares of Unusual Machines stock opened at $24.48 on Monday. The company has a fifty day moving average price of $24.38 and a 200 day moving average price of $20.54. Unusual Machines has a twelve month low of $7.24 and a twelve month high of $34.93. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of -94.15 and a beta of 14.78.

Unusual Machines (NYSEAMERICAN:UMAC) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.16) EPS for the quarter, meeting the consensus estimate of ($0.16). Unusual Machines had a negative return on equity of 7.62% and a negative net margin of 20.29%.The company had revenue of $16.72 million for the quarter, compared to analyst estimates of $9.20 million. Analysts forecast that Unusual Machines will post -0.67 earnings per share for the current year.

About Unusual Machines

Unusual Machines, Inc is a U.S.-based drone technology company that develops, manufactures and distributes unmanned aircraft systems and components. Its product portfolio is focused primarily on the first-person-view (FPV) drone market and includes drones, motors, propellers, flight controllers, frames, electronic components and FPV goggles.

The company sells products under brands including Rotor Riot and Fat Shark. Rotor Riot is associated with FPV drones, parts and accessories, while Fat Shark is known for FPV video goggles and related equipment.