Unusual Machines (NYSEAMERICAN:UMAC) President Sells $3,005,000.00 in Stock

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) President Andrew Ross Camden sold 100,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $30.05, for a total value of $3,005,000.00. Following the sale, the president directly owned 246,750 shares of the company’s stock, valued at $7,414,837.50. The trade was a 28.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Monday, March 16th, Andrew Ross Camden sold 9,625 shares of Unusual Machines stock. The stock was sold at an average price of $18.57, for a total value of $178,736.25.

Unusual Machines Stock Performance

UMAC stock opened at $26.70 on Monday. The stock has a market cap of $1.28 billion, a P/E ratio of -63.57 and a beta of 14.63. The stock’s fifty day simple moving average is $16.68 and its two-hundred day simple moving average is $14.66. Unusual Machines, Inc. has a 1-year low of $6.61 and a 1-year high of $34.36.

Unusual Machines (NYSEAMERICAN:UMAC) last announced its earnings results on Thursday, May 14th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.15). Unusual Machines had a negative net margin of 32.71% and a negative return on equity of 11.83%. The business had revenue of $8.10 million for the quarter, compared to analysts’ expectations of $5.54 million. As a group, analysts forecast that Unusual Machines, Inc. will post -0.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

UMAC has been the subject of several research reports. Roth Mkm increased their price objective on Unusual Machines to $40.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Needham & Company LLC boosted their target price on Unusual Machines from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Unusual Machines has a consensus rating of “Buy” and an average price target of $27.33.

Hedge Funds Weigh In On Unusual Machines

Hedge funds and other institutional investors have recently bought and sold shares of the stock. NFSG Corp purchased a new stake in Unusual Machines in the first quarter worth approximately $37,000. Ameritas Advisory Services LLC purchased a new stake in shares of Unusual Machines in the 3rd quarter valued at $38,000. Wexford Capital LP purchased a new stake in shares of Unusual Machines in the 3rd quarter valued at $40,000. Jones Financial Companies Lllp grew its holdings in shares of Unusual Machines by 67.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 3,017 shares of the company’s stock valued at $46,000 after purchasing an additional 1,218 shares during the last quarter. Finally, Bank of America Corp DE raised its position in Unusual Machines by 7,372.6% in the 2nd quarter. Bank of America Corp DE now owns 7,099 shares of the company’s stock worth $61,000 after purchasing an additional 7,004 shares during the period.

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.