Key Points
- Unusual Machines President Andrew Ross Camden sold 100,000 shares on June 4 at an average price of $30.05, totaling about $3.0 million. After the sale, his holdings fell by 28.84% to 246,750 shares.
- The company recently reported mixed quarterly results, with EPS of $0.21 missing expectations of $0.36, but revenue of $8.10 million beating analysts’ estimate of $5.54 million.
- Analyst sentiment remains positive, with Roth Mkm and Needham both raising price targets and the stock carrying an overall “Buy” consensus rating with an average target price of $27.33.
Unusual Machines, Inc. (NYSEAMERICAN:UMAC - Get Free Report) President Andrew Ross Camden sold 100,000 shares of the company's stock in a transaction 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 completion of the sale, the president owned 246,750 shares in the company, valued at $7,414,837.50. This represents a 28.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 shares were sold at an average price of $18.57, for a total value of $178,736.25.
Unusual Machines Stock Down 17.3%
Shares of NYSEAMERICAN:UMAC opened at $26.70 on Friday. Unusual Machines, Inc. has a 52-week low of $6.61 and a 52-week high of $34.36. The stock's fifty day simple moving average is $16.68 and its 200-day simple moving average is $14.62. The company has a market capitalization of $1.28 billion, a P/E ratio of -63.57 and a beta of 14.62.
Unusual Machines (NYSEAMERICAN:UMAC - Get Free Report) 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). Unusual Machines had a negative net margin of 32.71% and a negative return on equity of 11.83%. The company had revenue of $8.10 million during the quarter, compared to analysts' expectations of $5.54 million. On average, sell-side analysts anticipate that Unusual Machines, Inc. will post -0.38 earnings per share for the current year.
Hedge Funds Weigh In On Unusual Machines
Several large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its position in Unusual Machines by 213.2% during the first quarter. Bank of America Corp DE now owns 38,963 shares of the company's stock worth $483,000 after buying an additional 26,524 shares during the period. Royal Bank of Canada lifted its position in Unusual Machines by 27.8% during the first quarter. Royal Bank of Canada now owns 68,382 shares of the company's stock worth $848,000 after buying an additional 14,895 shares during the period. Empyrean Capital Partners LP purchased a new position in Unusual Machines during the first quarter worth about $620,000. DLD Asset Management LP purchased a new position in Unusual Machines during the first quarter worth about $496,000. Finally, Cetera Investment Advisers lifted its position in Unusual Machines by 23.1% during the first quarter. Cetera Investment Advisers now owns 17,884 shares of the company's stock worth $222,000 after buying an additional 3,353 shares during the period.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on the company. Roth Mkm increased their target price on Unusual Machines to $40.00 and gave the stock a "buy" rating in a research report on Tuesday. Needham & Company LLC increased their target price on Unusual Machines from $20.00 to $22.00 and gave the stock a "buy" rating in a research report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $27.33.
Check Out Our Latest Analysis on Unusual Machines
About Unusual Machines
(
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.
Further Reading
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