Safe Pro Group (NASDAQ:SPAI) Lowered to Strong Sell Rating by Zacks Research

Zacks Research lowered shares of Safe Pro Group (NASDAQ:SPAI) from a hold rating to a strong sell rating in a research report report published on Thursday morning,Zacks.com reports.

SPAI has been the subject of a number of other research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Safe Pro Group in a research report on Thursday, January 22nd. Wall Street Zen cut Safe Pro Group from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. Finally, Lake Street Capital began coverage on Safe Pro Group in a research report on Tuesday, November 18th. They issued a “buy” rating and a $9.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $10.00.

Safe Pro Group Trading Up 10.8%

NASDAQ:SPAI opened at $4.40 on Thursday. The stock has a market cap of $92.27 million, a price-to-earnings ratio of -5.87 and a beta of 3.72. The company has a quick ratio of 7.16, a current ratio of 7.60 and a debt-to-equity ratio of 0.02. The company’s 50 day moving average price is $4.90 and its 200-day moving average price is $5.49. Safe Pro Group has a 52 week low of $1.47 and a 52 week high of $9.16.

Safe Pro Group (NASDAQ:SPAI) last posted its earnings results on Friday, November 14th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.18). Safe Pro Group had a negative net margin of 968.74% and a negative return on equity of 280.18%. The company had revenue of $0.10 million for the quarter, compared to the consensus estimate of $0.10 million.

Safe Pro Group declared that its board has approved a stock repurchase program on Thursday, December 18th that permits the company to buyback $3.00 million in shares. This buyback authorization permits the company to repurchase up to 4.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Atlantic Union Bankshares Corp acquired a new stake in shares of Safe Pro Group during the 4th quarter worth approximately $42,000. Tudor Investment Corp ET AL acquired a new stake in Safe Pro Group in the 3rd quarter valued at about $1,785,000. NewEdge Advisors LLC acquired a new position in Safe Pro Group during the 3rd quarter worth approximately $393,000. Citadel Advisors LLC acquired a new position in shares of Safe Pro Group during the third quarter worth $3,940,000. Finally, Cresset Asset Management LLC boosted its position in shares of Safe Pro Group by 4.6% during the 2nd quarter. Cresset Asset Management LLC now owns 144,929 shares of the company’s stock worth $399,000 after acquiring an additional 6,346 shares in the last quarter.

Safe Pro Group Company Profile

Safe Pro Group, Inc engages in the provision and acquisition of security and protection products. Its products include Artificial Intelligence (AI) and Machine Learning (ML) software technology and photogrammetry analysis tools, bullet and blast resistant personal protection equipment, and aerial managed services and mission-critical uncrewed solutions. The firm operates through the following segments: Safe-PRO USA, Airborne Response, and Safe Pro AI. The company was founded by Daniyel Erdberg on December 15, 2021 and is headquartered in Aventura, FL.