Unusual Machines (NYSEAMERICAN:UMAC) President Sells $250,346.25 in Stock

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) President Andrew Ross Camden sold 9,625 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $26.01, for a total transaction of $250,346.25. Following the completion of the sale, the president owned 237,125 shares in the company, valued at approximately $6,167,621.25. The trade was a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Andrew Ross Camden also recently made the following trade(s):

• On Thursday, June 4th, Andrew Ross Camden sold 100,000 shares of Unusual Machines stock. The stock was sold at an average price of $30.05, for a total transaction of $3,005,000.00.

Unusual Machines Price Performance

UMAC stock opened at $27.43 on Monday. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of -105.50 and a beta of 14.92. The company has a 50 day simple moving average of $22.62 and a 200 day simple moving average of $18.64. 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) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.16). The firm had revenue of $16.72 million for the quarter, compared to analyst estimates of $9.20 million. Unusual Machines had a negative net margin of 20.29% and a negative return on equity of 7.62%. On average, equities research analysts anticipate that Unusual Machines, Inc. will post -0.67 EPS for the current fiscal year.

Institutional Investors Weigh In On Unusual Machines

Several institutional investors and hedge funds have recently made changes to their positions in UMAC. Concurrent Investment Advisors LLC bought a new position in shares of Unusual Machines during the second quarter worth about $1,446,000. Bank of New York Mellon Corp bought a new stake in Unusual Machines in the second quarter valued at approximately $2,999,000. Wasatch Advisors LP bought a new stake in Unusual Machines in the second quarter valued at approximately $8,087,000. IFC & Insurance Marketing Inc. increased its position in Unusual Machines by 30.7% during the 2nd quarter. IFC & Insurance Marketing Inc. now owns 14,140 shares of the company’s stock valued at $315,000 after purchasing an additional 3,319 shares during the period. Finally, Bank of America Corp DE increased its position in Unusual Machines by 213.2% during the 1st quarter. Bank of America Corp DE now owns 38,963 shares of the company’s stock valued at $483,000 after purchasing an additional 26,524 shares during the period.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. ThinkEquity restated a “buy” rating on shares of Unusual Machines in a research report on Monday, August 17th. Needham & Company LLC increased their target price on Unusual Machines from $30.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. HC Wainwright initiated coverage on Unusual Machines in a research note on Wednesday, July 15th. They set a “buy” rating and a $42.00 price target on the stock. National Bank Financial set a $42.00 price target on Unusual Machines in a research note on Wednesday, July 15th. Finally, Roth Capital boosted their price target on Unusual Machines to $40.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Unusual Machines has an average rating of “Moderate Buy” and a consensus target price 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.