Unusual Machines, Inc. (NYSEAMERICAN:UMAC) CFO Brian Joseph Hoff Sells 83,775 Shares

Unusual Machines, Inc. (NYSEAMERICAN:UMAC) CFO Brian Joseph Hoff sold 83,775 shares of the stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $5.70, for a total transaction of $477,517.50. Following the sale, the chief financial officer now directly owns 359,225 shares of the company’s stock, valued at approximately $2,047,582.50. The trade was a 18.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Unusual Machines Stock Performance

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

Hedge Funds Weigh In On Unusual Machines

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Kieckhefer Group LLC purchased a new position in Unusual Machines during the 4th quarter worth approximately $242,000. SBI Securities Co. Ltd. acquired a new stake in shares of Unusual Machines in the fourth quarter worth $141,000. Jane Street Group LLC purchased a new stake in Unusual Machines in the fourth quarter valued at $298,000. OMERS ADMINISTRATION Corp purchased a new position in Unusual Machines during the fourth quarter valued at approximately $209,000. Finally, NewEdge Advisors LLC acquired a new position in Unusual Machines in the fourth quarter valued at approximately $84,000.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Maxim Group began coverage on shares of Unusual Machines in a research note on Wednesday, December 18th. They issued a “buy” rating and a $18.00 target price for the company. Litchfield Hills Research began coverage on Unusual Machines in a research note on Wednesday, February 19th. They set a “buy” rating and a $20.00 target price on the stock.

Unusual Machines Company Profile

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.