Unusual Machines, Inc. (NYSEAMERICAN:UMAC) Stock Has Average Target Price of $37.00

by · The Markets Daily

Shares of Unusual Machines, Inc. (NYSEAMERICAN:UMAC – Get Free Report) have received an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $37.00.

Several analysts have commented on UMAC shares. Piper Sandler assumed coverage on shares of Unusual Machines in a research report on Wednesday, August 12th. They issued an “overweight” rating and a $38.00 target price for the company. National Bank Financial set a $42.00 price target on shares of Unusual Machines in a report on Wednesday, July 15th. ThinkEquity reaffirmed a “buy” rating on shares of Unusual Machines in a research note on Monday, August 17th. Needham & Company LLC upped their price objective on shares of Unusual Machines from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, HC Wainwright initiated coverage on shares of Unusual Machines in a report on Wednesday, July 15th. They issued a “buy” rating and a $42.00 price objective for the company.

Check Out Our Latest Stock Report on Unusual Machines

Insiders Place Their Bets

In other news, CRO Stacy Rochelle Wright sold 27,500 shares of the company’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $26.00, for a total transaction of $715,000.00. Following the completion of the sale, the executive owned 68,750 shares in the company, valued at approximately $1,787,500. This represents a 28.57% decrease in their position. 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. Also, CFO Brian Joseph Hoff sold 11,413 shares of the company’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $26.01, for a total value of $296,852.13. Following the sale, the chief financial officer owned 341,237 shares of the company’s stock, valued at approximately $8,875,574.37. This trade represents a 3.24% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 48,538 shares of company stock valued at $1,262,198 over the last quarter. Insiders own 4.87% of the company’s stock.

Institutional Investors Weigh In On Unusual Machines

A number of large investors have recently added to or reduced their stakes in the stock. Granahan Investment Management LLC acquired a new position in Unusual Machines in the 4th quarter valued at $14,708,000. Wasatch Advisors LP bought a new position in Unusual Machines in the 2nd quarter worth $8,087,000. Squarepoint Ops LLC acquired a new position in Unusual Machines during the 2nd quarter worth $4,872,000. Yorkville Advisors Global LP acquired a new position in Unusual Machines during the 1st quarter worth $1,692,000. Finally, Bank of New York Mellon Corp acquired a new position in Unusual Machines during the 2nd quarter worth $2,999,000.

Unusual Machines Price Performance

Shares of Unusual Machines stock opened at $22.37 on Monday. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of -86.04 and a beta of 14.80. The stock has a 50-day simple moving average of $24.44 and a 200-day simple moving average of $20.57. Unusual Machines has a 52-week low of $7.24 and a 52-week high of $34.93.

Unusual Machines (NYSEAMERICAN:UMAC – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.16) EPS for the quarter, hitting analysts’ consensus estimates of ($0.16). The firm had revenue of $16.72 million for the quarter, compared to the consensus estimate of $9.20 million. Unusual Machines had a negative return on equity of 7.62% and a negative net margin of 20.29%. As a group, equities research analysts predict that Unusual Machines will post -0.67 earnings per share for the current year.

About Unusual Machines

(Get Free Report)

Unusual Machines, Inc develops, manufactures and sells components and systems for drones, with a focus on first-person-view (FPV) aircraft and other small unmanned aerial systems. Its product offerings include drone motors, propellers, flight controllers, frames and related electronic components used by recreational, commercial and government customers.

The company also markets and distributes FPV drone products through its Rotor Riot brand, which serves the FPV community with aircraft, equipment, accessories and related content.

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