This documentary follow the work of UAPx, as they revisit (roughly) the area of the 2004 Nimitz UFO sightings, and try to find something interesting flying in the airspace between Catalina Island, Long Beach, and Laguna Beach.
They use a variety of equipment:
Two things they feature in the trailer are a "wormhole", and a "Navy Tic-Tac". The latter shows up in thermal footage
Before zooming in it reminded me of the Chilean UFO (an A340) - and of course that region is very busy with air traffic, with Catalina being a navigation VOR, so planes fly right towards, or away from it. So maybe it's a plane.
Zooming in (see video above) it seems to exhibit some kind of flapping motion.