Unusual Machines (NYSEAMERICAN:UMAC) Price Target Raised to $40.00

Unusual Machines (NYSEAMERICAN:UMAC) had its price objective boosted by Roth Mkm to $40.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Roth Mkm’s price target points to a potential upside of 38.50% from the company’s current price.

Separately, Needham & Company LLC lifted their price objective on shares of Unusual Machines from $20.00 to $22.00 and gave the company a “buy” rating in a report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $27.33.

Unusual Machines Stock Down 9.1%

Shares of UMAC stock opened at $28.88 on Tuesday. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of -68.76 and a beta of 14.63. The company’s 50 day moving average is $15.47 and its 200 day moving average is $14.07. Unusual Machines has a 52-week low of $5.10 and a 52-week high of $32.36.

Unusual Machines (NYSEAMERICAN:UMAC) last issued its quarterly earnings data 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). The business had revenue of $8.10 million for the quarter, compared to analysts’ expectations of $5.54 million. Unusual Machines had a negative net margin of 32.71% and a negative return on equity of 11.83%. Analysts anticipate that Unusual Machines will post -0.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other Unusual Machines news, CRO Stacy Rochelle Wright sold 13,750 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 value of $255,337.50. Following the transaction, the executive directly owned 96,250 shares of the company’s stock, valued at approximately $1,787,362.50. The trade was a 12.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Andrew Ross Camden sold 9,625 shares of Unusual Machines stock in a transaction on Monday, March 16th. The stock was sold at an average price of $18.57, for a total transaction of $178,736.25. Following the completion of the transaction, the president directly owned 356,375 shares in the company, valued at $6,617,883.75. This represents a 2.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 185,768 shares of company stock valued at $3,322,537. 7.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Unusual Machines

Large investors have recently made changes to their positions in the stock. Ameritas Advisory Services LLC purchased a new stake in shares of Unusual Machines during the third quarter valued at $38,000. Wexford Capital LP purchased a new stake in shares of Unusual Machines during the third quarter valued at $40,000. NFSG Corp purchased a new stake in shares of Unusual Machines during the first quarter valued at $37,000. Jones Financial Companies Lllp grew its holdings in shares of Unusual Machines by 67.7% during the third quarter. Jones Financial Companies Lllp now owns 3,017 shares of the company’s stock valued at $46,000 after buying an additional 1,218 shares during the last quarter. Finally, Ankerstar Wealth LLC purchased a new stake in shares of Unusual Machines during the fourth quarter valued at $64,000.

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.