Unusual Machines, Inc. $UMAC Stock Bought by Halter Ferguson Financial Inc.

Halter Ferguson Financial Inc. boosted its holdings in shares of Unusual Machines, Inc. (NYSEAMERICAN:UMAC) by 16.4% during the third quarter, Holdings Channel reports. The firm owned 1,782,969 shares of the company’s stock after acquiring an additional 250,621 shares during the quarter. Unusual Machines makes up about 7.6% of Halter Ferguson Financial Inc.’s investment portfolio, making the stock its 5th biggest position. Halter Ferguson Financial Inc.’s holdings in Unusual Machines were worth $43,647,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Wasatch Advisors LP bought a new position in Unusual Machines during the 2nd quarter valued at approximately $8,087,000. Squarepoint Ops LLC purchased a new stake in Unusual Machines in the 2nd quarter worth approximately $4,872,000. Bank of New York Mellon Corp purchased a new stake in Unusual Machines in the 2nd quarter worth approximately $2,999,000. Yorkville Advisors Global LP bought a new stake in shares of Unusual Machines in the 1st quarter worth approximately $1,692,000. Finally, Concurrent Investment Advisors LLC bought a new stake in shares of Unusual Machines in the 2nd quarter worth approximately $1,446,000.

Unusual Machines Trading Up 3.7%

Shares of NYSEAMERICAN UMAC opened at $16.98 on Thursday. Unusual Machines, Inc. has a 1 year low of $7.24 and a 1 year high of $34.93. The company’s 50-day moving average is $23.32 and its 200 day moving average is $20.95.

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

Insider Buying and Selling at Unusual Machines

In other news, President Andrew Ross Camden sold 9,625 shares of the stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $26.01, for a total value of $250,346.25. Following the completion of the transaction, the president owned 237,125 shares of the company’s stock, valued at approximately $6,167,621.25. This represents a 3.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Joseph Hoff sold 11,413 shares of the stock in a transaction that occurred on 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 directly owned 341,237 shares of the company’s stock, valued at $8,875,574.37. This represents a 3.24% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 48,538 shares of company stock valued at $1,262,198. 4.87% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on UMAC. Piper Sandler began coverage on Unusual Machines in a research note on Wednesday, August 12th. They set an “overweight” rating and a $38.00 target price on the stock. ThinkEquity reaffirmed a “buy” rating on shares of Unusual Machines in a research note on Monday, August 17th. HC Wainwright initiated coverage on Unusual Machines in a research note on Wednesday, July 15th. They issued a “buy” rating and a $42.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price target on shares of Unusual Machines in a report on Wednesday, October 7th. Finally, National Bank Financial set a $42.00 price objective on shares of Unusual Machines in a research report on Wednesday, July 15th. Six equities research analysts have rated the stock with a Buy rating. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $37.00.

About Unusual Machines

Unusual Machines, Inc develops, manufactures and sells unmanned aircraft systems and components, with a focus on first-person-view (FPV) drones. Its product offerings include complete drones, motors, propellers, frames, flight controllers and other replacement parts used by recreational pilots, commercial operators and drone builders.

The company also markets FPV-related electronics and accessories, including video equipment and goggles. Its portfolio has included the Rotor Riot and Fat Shark brands, which are associated with FPV drones, pilot content and immersive flight products.