Unusual Machines (NYSEAMERICAN:UMAC) Rating Increased to Strong-Buy at HC Wainwright

HC Wainwright upgraded shares of Unusual Machines (NYSEAMERICAN:UMAC) to a strong-buy rating in a report issued on Wednesday,Zacks.com reports.

A number of other research firms also recently weighed in on UMAC. Roth Capital boosted their target price on Unusual Machines to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Needham & Company LLC lifted their price objective on Unusual Machines from $22.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, June 11th. Finally, National Bank Financial set a $42.00 price objective on Unusual Machines in a report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $34.80.

Unusual Machines Stock Down 0.9%

Shares of NYSEAMERICAN:UMAC opened at $18.52 on Wednesday. Unusual Machines has a 12 month low of $7.24 and a 12 month high of $34.36. The company’s 50-day moving average price is $21.14 and its two-hundred day moving average price is $17.04. The firm has a market cap of $885.07 million, a P/E ratio of -44.09 and a beta of 14.84.

Unusual Machines (NYSEAMERICAN:UMAC) last announced its earnings results on Thursday, May 14th. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.15). Unusual Machines had a negative return on equity of 11.83% and a negative net margin of 32.71%.The company had revenue of $8.10 million during the quarter, compared to the consensus estimate of $5.54 million. As a group, equities analysts predict that Unusual Machines will post -0.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, President Andrew Ross Camden sold 100,000 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $30.05, for a total value of $3,005,000.00. Following the transaction, the president owned 246,750 shares of the company’s stock, valued at $7,414,837.50. This represents a 28.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Brian Joseph Hoff sold 150,000 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $17.71, for a total value of $2,656,500.00. Following the completion of the transaction, the chief financial officer owned 352,650 shares in the company, valued at $6,245,431.50. This represents a 29.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 280,000 shares of company stock valued at $6,477,200. Company insiders own 7.50% of the company’s stock.

Hedge Funds Weigh In On Unusual Machines

Several hedge funds have recently added to or reduced their stakes in the stock. Tudor Investment Corp ET AL raised its position 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. FNY Investment Advisers LLC grew its holdings in Unusual Machines by 293.4% during the fourth quarter. FNY Investment Advisers LLC now owns 120,001 shares of the company’s stock valued at $1,528,000 after purchasing an additional 89,500 shares during the period. Moody National Bank Trust Division acquired a new position in Unusual Machines during the fourth quarter valued at approximately $549,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Unusual Machines in the fourth quarter valued at approximately $1,776,000. Finally, Counterpoint Mutual Funds LLC bought a new stake in Unusual Machines in the first quarter valued at approximately $817,000.

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.