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

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

Unusual Machines Price Performance

Unusual Machines stock opened at $5.31 on Monday. The company has a quick ratio of 0.95, a current ratio of 2.24 and a debt-to-equity ratio of 0.16. Unusual Machines, Inc. has a fifty-two week low of $0.98 and a fifty-two week high of $23.62. The firm has a 50-day moving average price of $9.39.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in Unusual Machines by 329.3% in the fourth quarter. Geode Capital Management LLC now owns 43,214 shares of the company’s stock valued at $727,000 after purchasing an additional 33,148 shares during the period. Jane Street Group LLC acquired a new stake in shares of Unusual Machines during the fourth quarter worth about $298,000. Kieckhefer Group LLC purchased a new position in shares of Unusual Machines during the fourth quarter worth about $242,000. OMERS ADMINISTRATION Corp acquired a new position in Unusual Machines in the 4th quarter valued at about $209,000. Finally, SBI Securities Co. Ltd. purchased a new stake in Unusual Machines during the 4th quarter valued at approximately $141,000.

Wall Street Analysts Forecast Growth

UMAC has been the topic of several recent analyst reports. Maxim Group started coverage on shares of Unusual Machines in a research note on Wednesday, December 18th. They issued a “buy” rating and a $18.00 price target on the stock. Litchfield Hills Research began coverage on shares of Unusual Machines in a report on Wednesday, February 19th. They issued a “buy” rating and a $20.00 target price for the company.

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.