Insider Selling: Unusual Machines, Inc. (NYSEAMERICAN:UMAC) CFO Sells 83,775 Shares of Stock

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) CFO Brian Joseph Hoff sold 83,775 shares of the business’s stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $5.70, for a total value of $477,517.50. Following the transaction, the chief financial officer now owns 359,225 shares in the company, valued at $2,047,582.50. The trade was a 18.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Unusual Machines Trading Down 9.7 %

UMAC stock opened at $5.31 on Monday. The firm’s 50 day moving average is $9.39. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.24 and a quick ratio of 0.95. Unusual Machines, Inc. has a 12-month low of $0.98 and a 12-month high of $23.62.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Litchfield Hills Research assumed coverage on Unusual Machines in a research note on Wednesday, February 19th. They issued a “buy” rating and a $20.00 price target on the stock. Maxim Group initiated coverage on shares of Unusual Machines in a research report on Wednesday, December 18th. They set a “buy” rating and a $18.00 target price on the stock.

Hedge Funds Weigh In On Unusual Machines

Several hedge funds and other institutional investors have recently bought and sold shares of UMAC. Kieckhefer Group LLC acquired a new stake in Unusual Machines in the fourth quarter valued at $242,000. SBI Securities Co. Ltd. acquired a new stake in Unusual Machines in the 4th quarter valued at about $141,000. Signaturefd LLC purchased a new position in Unusual Machines during the 4th quarter valued at about $25,000. Geode Capital Management LLC raised its position in Unusual Machines by 329.3% during the fourth quarter. Geode Capital Management LLC now owns 43,214 shares of the company’s stock worth $727,000 after acquiring an additional 33,148 shares during the last quarter. Finally, NewEdge Advisors LLC purchased a new stake in shares of Unusual Machines in the fourth quarter valued at about $84,000.

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.