Unusual Machines, Inc. (NYSEAMERICAN:UMAC - Get Free Report) Director Jeffrey Thompson sold 15,000 shares of Unusual Machines stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $26.96, for a total value of $404,400.00. Following the completion of the sale, the director owned 4,794,392 shares of the company's stock, valued at $129,256,808.32. This trade represents a 0.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Unusual Machines Price Performance
UMAC opened at $23.90 on Wednesday. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of -56.90 and a beta of 14.62. The business has a 50-day moving average of $17.17 and a two-hundred day moving average of $14.88. Unusual Machines, Inc. has a 12 month low of $7.24 and a 12 month high of $34.36.
Unusual Machines (NYSEAMERICAN:UMAC - Get Free Report) last posted its quarterly earnings results on Thursday, May 14th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.15). The business had revenue of $8.10 million during 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%. Equities research analysts anticipate that Unusual Machines, Inc. will post -0.38 earnings per share for the current year.
Institutional Trading of Unusual Machines
A number of institutional investors have recently modified their holdings of UMAC. Geode Capital Management LLC grew its holdings in shares of Unusual Machines by 89.1% during the 2nd quarter. Geode Capital Management LLC now owns 222,927 shares of the company's stock worth $1,911,000 after purchasing an additional 105,020 shares during the period. Jump Financial LLC purchased a new stake in shares of Unusual Machines during the 2nd quarter worth about $1,251,000. Bank of America Corp DE grew its holdings in shares of Unusual Machines by 7,372.6% during 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. Tower Research Capital LLC TRC grew its holdings in shares of Unusual Machines by 4,639.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 13,366 shares of the company's stock worth $115,000 after purchasing an additional 13,084 shares during the period. Finally, 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 worth $46,000 after purchasing an additional 1,218 shares during the period.
Wall Street Analysts Forecast Growth
Several research firms have commented on UMAC. Roth Mkm lifted their price target on Unusual Machines to $40.00 and gave the company a "buy" rating in a report on Tuesday, June 2nd. Needham & Company LLC lifted their price target on Unusual Machines from $20.00 to $22.00 and gave the company a "buy" rating in a report on Friday, May 15th. One 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. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $27.33.
Read Our Latest Stock Report on UMAC
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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