Safe Pro Group Inc. (NASDAQ:SPAI) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Safe Pro Group Inc. (NASDAQ:SPAI) have been given an average recommendation of “Moderate Buy” by the five analysts that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, one has given a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $10.00.

SPAI has been the topic of a number of research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Safe Pro Group in a report on Thursday, January 22nd. Wall Street Zen lowered Safe Pro Group from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. Lake Street Capital started coverage on shares of Safe Pro Group in a research report on Tuesday, November 18th. They set a “buy” rating and a $9.00 price target for the company. Finally, Zacks Research cut shares of Safe Pro Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 5th.

Hedge Funds Weigh In On Safe Pro Group

A number of institutional investors have recently modified their holdings of SPAI. Atlantic Union Bankshares Corp purchased a new stake in shares of Safe Pro Group in the fourth quarter worth about $42,000. Prospera Financial Services Inc acquired a new position in Safe Pro Group in the third quarter valued at approximately $82,000. Forefront Wealth Management Inc. acquired a new position in Safe Pro Group in the third quarter valued at approximately $214,000. Forefront Wealth Partners LLC purchased a new stake in Safe Pro Group in the 3rd quarter worth approximately $214,000. Finally, NewEdge Advisors LLC acquired a new stake in shares of Safe Pro Group during the 3rd quarter worth approximately $393,000.

Safe Pro Group Trading Down 5.6%

NASDAQ SPAI opened at $3.89 on Friday. Safe Pro Group has a 12-month low of $1.47 and a 12-month high of $9.16. The company has a fifty day simple moving average of $4.82 and a two-hundred day simple moving average of $5.50. The company has a current ratio of 7.60, a quick ratio of 7.16 and a debt-to-equity ratio of 0.02. The stock has a market cap of $81.58 million, a P/E ratio of -5.19 and a beta of 3.72.

Safe Pro Group (NASDAQ:SPAI) last released 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 firm had revenue of $0.10 million during the quarter, compared to analyst estimates of $0.10 million.

Safe Pro Group declared that its board has initiated a share repurchase plan on Thursday, December 18th that allows the company to buyback $3.00 million in shares. This buyback authorization allows the company to repurchase up to 4.4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.

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.