Safe Pro Group (NASDAQ:SPAI) Posts Earnings Results

Safe Pro Group (NASDAQ:SPAI) released its quarterly earnings data on Tuesday. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.05), Zacks reports. The business had revenue of $0.23 million during the quarter, compared to the consensus estimate of $0.10 million. Safe Pro Group had a negative net margin of 968.74% and a negative return on equity of 280.18%.

Safe Pro Group Stock Up 2.4%

Safe Pro Group stock traded up $0.10 during midday trading on Thursday, hitting $4.10. 75,517 shares of the stock were exchanged, compared to its average volume of 351,118. Safe Pro Group has a 52-week low of $1.47 and a 52-week high of $9.16. 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 business’s 50-day moving average price is $4.63 and its 200-day moving average price is $5.32. The stock has a market capitalization of $85.91 million, a price-to-earnings ratio of -4.86 and a beta of 3.90.

Hedge Funds Weigh In On Safe Pro Group

Several hedge funds have recently modified their holdings of SPAI. Citadel Advisors LLC bought a new stake in Safe Pro Group during the third quarter worth $3,940,000. Ghisallo Capital Management LLC bought a new position in Safe Pro Group in the 4th quarter valued at $1,190,000. NewEdge Advisors LLC bought a new position in Safe Pro Group in the 3rd quarter valued at $393,000. Geode Capital Management LLC increased its position in shares of Safe Pro Group by 66.3% during the 4th quarter. Geode Capital Management LLC now owns 128,627 shares of the company’s stock valued at $535,000 after purchasing an additional 51,283 shares during the last quarter. Finally, Tudor Investment Corp ET AL increased its position in shares of Safe Pro Group by 9.1% during the 4th quarter. Tudor Investment Corp ET AL now owns 277,285 shares of the company’s stock valued at $1,154,000 after purchasing an additional 23,018 shares during the last quarter.

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

Analysts Set New Price Targets

A number of research firms recently weighed in on SPAI. Zacks Research lowered shares of Safe Pro Group from a “hold” rating to a “strong sell” rating in a report on Thursday, February 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Safe Pro Group in a report on Thursday, January 22nd. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $10.00.

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.