Unusual Machines (NYSEAMERICAN:UMAC) Trading Up 12.2% – Still a Buy?

Unusual Machines, Inc. (NYSEAMERICAN:UMAC)’s stock price shot up 12.2% during trading on Thursday . The company traded as high as $14.08 and last traded at $13.85. 2,184,192 shares traded hands during mid-day trading, a decline of 50% from the average session volume of 4,333,468 shares. The stock had previously closed at $12.34.

Analysts Set New Price Targets

Separately, Needham & Company LLC reissued a “buy” rating and set a $20.00 price target on shares of Unusual Machines in a research report on Monday, March 9th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Unusual Machines currently has a consensus rating of “Buy” and a consensus price target of $20.00.

Unusual Machines Trading Up 8.8%

The company’s 50 day moving average price is $14.92 and its two-hundred day moving average price is $13.36. The firm has a market cap of $522.84 million, a PE ratio of -15.98 and a beta of 19.80.

Insider Buying and Selling

In related news, CFO Brian Joseph Hoff sold 11,413 shares of the firm’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $18.59, for a total transaction of $212,167.67. Following the completion of the transaction, the chief financial officer directly owned 514,062 shares of the company’s stock, valued at approximately $9,556,412.58. This trade represents a 2.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Andrew Ross Camden sold 9,625 shares of Unusual Machines stock in a transaction on Monday, March 16th. The shares were sold at an average price of $18.57, for a total transaction of $178,736.25. Following the completion of the sale, the president owned 356,375 shares in the company, valued at approximately $6,617,883.75. This represents a 2.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 35,768 shares of company stock worth $666,037. 7.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Unusual Machines

Hedge funds have recently bought and sold shares of the business. BlueCrest Capital Management Ltd bought a new position in Unusual Machines during the third quarter valued at $2,168,000. Tudor Investment Corp ET AL increased its holdings in shares of Unusual Machines by 201.0% in the 3rd quarter. Tudor Investment Corp ET AL now owns 1,207,460 shares of the company’s stock valued at $18,233,000 after acquiring an additional 806,359 shares during the period. Moody National Bank Trust Division acquired a new position in shares of Unusual Machines during the fourth quarter worth $549,000. Kieckhefer Group LLC grew its position in Unusual Machines by 330.6% during the 3rd quarter. Kieckhefer Group LLC now owns 62,000 shares of the company’s stock worth $936,000 after purchasing an additional 47,600 shares during the last quarter. Finally, Bluefin Capital Management LLC acquired a new stake in shares of Unusual Machines during the second quarter worth about $166,000.

Unusual Machines Company Profile

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.