Sanford Rich Sells 980 Shares of Unusual Machines (NYSEAMERICAN:UMAC) Stock

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) Director Sanford Rich sold 980 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $20.20, for a total value of $19,796.00. Following the completion of the sale, the director directly owned 205,925 shares in the company, valued at approximately $4,159,685. The trade was a 0.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Sanford Rich also recently made the following trade(s):

• On Monday, December 29th, Sanford Rich sold 11,087 shares of Unusual Machines stock. The stock was sold at an average price of $1.99, for a total value of $22,063.13.

Unusual Machines Price Performance

Shares of UMAC stock traded up $2.30 on Tuesday, hitting $20.91. The stock had a trading volume of 4,623,658 shares, compared to its average volume of 4,053,957. The company’s 50 day moving average price is $15.21 and its 200-day moving average price is $12.93. Unusual Machines, Inc. has a 1 year low of $4.45 and a 1 year high of $23.38. The firm has a market capitalization of $813.19 million, a P/E ratio of -24.89 and a beta of 22.20.

Hedge Funds Weigh In On Unusual Machines

Institutional investors and hedge funds have recently made changes to their positions in the business. Granahan Investment Management LLC bought a new stake in shares of Unusual Machines in the fourth quarter worth $14,708,000. State Street Corp increased its holdings in shares of Unusual Machines by 698.4% in the 4th quarter. State Street Corp now owns 966,184 shares of the company’s stock valued at $12,309,000 after acquiring an additional 845,173 shares during the last quarter. Tudor Investment Corp ET AL increased its holdings 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 last quarter. Alyeska Investment Group L.P. acquired a new stake in shares of Unusual Machines during the 4th quarter valued at approximately $2,521,000. Finally, Sei Investments Co. bought a new position in Unusual Machines during the third quarter worth $2,652,000.

Analysts Set New Price Targets

UMAC has been the topic of several research analyst reports. ThinkEquity raised Unusual Machines to a “strong-buy” rating in a research report on Monday, November 17th. JonesTrading assumed coverage on Unusual Machines in a report on Monday, December 1st. They issued a “buy” rating and a $20.00 price target for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price objective on shares of Unusual Machines in a report on Monday, March 9th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Unusual Machines currently has an average rating of “Buy” and an average target price of $20.00.

About Unusual Machines

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.