Key Points
- Unusual Machines CFO Brian Joseph Hoff sold 150,000 shares on May 27 at an average price of $17.71, totaling about $2.66 million. The sale cut his direct ownership by nearly 30%, though it was executed under a pre-arranged Rule 10b5-1 plan.
- The company’s stock was trading sharply higher, opening at $31.78 and up 7.4% in the session, with a 52-week range of $4.81 to $32.36. Unusual Machines has been volatile, with a beta of 14.32 and a market cap of about $1.52 billion.
- Despite beating revenue expectations in its latest quarter, Unusual Machines missed on EPS, reporting $0.21 versus the expected $0.36. Analysts currently have a consensus Buy rating with an average price target of $22.33.
Unusual Machines, Inc. (NYSEAMERICAN:UMAC - Get Free Report) CFO Brian Joseph Hoff sold 150,000 shares of the stock in a transaction on Wednesday, May 27th. The shares were 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 directly owned 352,650 shares of the company's stock, valued at approximately $6,245,431.50. This represents a 29.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Brian Joseph Hoff also recently made the following trade(s):
- On Monday, March 16th, Brian Joseph Hoff sold 11,413 shares of Unusual Machines stock. The shares were sold at an average price of $18.59, for a total transaction of $212,167.67.
Unusual Machines Trading Up 7.4%
NYSEAMERICAN UMAC opened at $31.78 on Friday. The stock has a market cap of $1.52 billion, a PE ratio of -75.66 and a beta of 14.32. Unusual Machines, Inc. has a twelve month low of $4.81 and a twelve month high of $32.36. The stock has a fifty day simple moving average of $15.26 and a 200-day simple moving average of $13.93.
Unusual Machines (NYSEAMERICAN:UMAC - Get Free Report) last released its quarterly 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 business had revenue of $8.10 million for the quarter, compared to analysts' expectations of $5.54 million. Research analysts predict that Unusual Machines, Inc. will post -0.38 EPS for the current year.
Hedge Funds Weigh In On Unusual Machines
A number of institutional investors have recently made changes to their positions in UMAC. Granahan Investment Management LLC acquired a new position in shares of Unusual Machines in the fourth quarter worth $14,708,000. State Street Corp raised its holdings in shares of Unusual Machines by 698.4% in the fourth quarter. State Street Corp now owns 966,184 shares of the company's stock worth $12,309,000 after acquiring an additional 845,173 shares during the last quarter. Tudor Investment Corp ET AL raised its holdings in shares of Unusual Machines by 201.0% in the third quarter. Tudor Investment Corp ET AL now owns 1,207,460 shares of the company's stock worth $18,233,000 after acquiring an additional 806,359 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of Unusual Machines in the fourth quarter worth $2,521,000. Finally, Sei Investments Co. acquired a new position in shares of Unusual Machines in the third quarter worth $2,652,000.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on the company. Roth Mkm assumed coverage on Unusual Machines in a research report on Wednesday, May 13th. They set a "buy" rating and a $25.00 target price on the stock. 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 report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $22.33.
Check Out Our Latest Stock Report on UMAC
More Unusual Machines News
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Unusual Machines Company Profile
(
Get Free Report)
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.
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