Northland Securities Initiates Coverage on Unusual Machines (NYSEAMERICAN:UMAC)

Stock analysts at Northland Securities started coverage on shares of Unusual Machines (NYSEAMERICAN:UMAC) in a research report issued on Friday, MarketBeat Ratings reports. The firm set an “outperform” rating and a $30.00 price target on the stock. Northland Securities‘s price target points to a potential upside of 84.39% from the stock’s current price.

Several other brokerages also recently commented on UMAC. Piper Sandler initiated coverage on Unusual Machines in a research note on Wednesday, August 12th. They issued an “overweight” rating and a $38.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 target price on shares of Unusual Machines in a research report on Wednesday, October 7th. National Bank Financial set a $42.00 price target on Unusual Machines in a research note on Wednesday, July 15th. 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. Finally, ThinkEquity reiterated a “buy” rating on shares of Unusual Machines in a report on Monday, August 17th. Seven equities research analysts have rated the stock with a Buy rating. Based on data from MarketBeat, Unusual Machines presently has an average rating of “Buy” and a consensus target price of $36.00.

Unusual Machines Trading Down 4.2%

NYSEAMERICAN:UMAC opened at $16.27 on Friday. The stock has a market capitalization of $812.85 million, a price-to-earnings ratio of -62.58 and a beta of 14.80. The firm has a fifty day simple moving average of $23.10 and a two-hundred day simple moving average of $20.97. Unusual Machines has a 12 month low of $7.24 and a 12 month high of $34.93.

Unusual Machines (NYSEAMERICAN:UMAC) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.16) earnings per share for the quarter, meeting the consensus estimate of ($0.16). Unusual Machines had a negative net margin of 20.29% and a negative return on equity of 7.62%. The firm had revenue of $16.72 million during the quarter, compared to the consensus estimate of $9.20 million. Equities analysts predict that Unusual Machines will post -0.67 earnings per share for the current fiscal year.

Insider Activity at Unusual Machines

In other Unusual Machines news, CRO Stacy Rochelle Wright sold 27,500 shares of the company’s stock in a transaction on 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 approximately $1,787,500. This represents a 28.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible 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 firm’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $26.01, for a total transaction of $296,852.13. Following the completion of the transaction, the chief financial officer directly owned 341,237 shares in the company, valued at $8,875,574.37. This trade represents a 3.24% decrease in their ownership of the stock. 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 90 days, insiders sold 48,538 shares of company stock valued at $1,262,198. 4.87% of the stock is owned by company insiders.

Institutional Investors Weigh In On Unusual Machines

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Halter Ferguson Financial Inc. raised its holdings in shares of Unusual Machines by 16.4% in the 3rd quarter. Halter Ferguson Financial Inc. now owns 1,782,969 shares of the company’s stock worth $43,647,000 after acquiring an additional 250,621 shares during the last quarter. Wasatch Advisors LP acquired a new position in Unusual Machines during the 2nd quarter valued at about $8,087,000. Squarepoint Ops LLC acquired a new position in Unusual Machines during the 2nd quarter valued at about $4,872,000. Yorkville Advisors Global LP bought a new stake in Unusual Machines during the 1st quarter worth approximately $1,692,000. Finally, Bank of New York Mellon Corp bought a new stake in Unusual Machines during the 2nd quarter worth approximately $2,999,000.

Unusual Machines Company Profile

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.