Safe Pro Group Inc. (NASDAQ:SPAI) Given Average Recommendation of “Moderate Buy” by Analysts

Safe Pro Group Inc. (NASDAQ:SPAI) has received a consensus rating of “Moderate Buy” from the five analysts that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, one has given a buy rating and two have assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $10.00.

A number of analysts have recently commented on SPAI shares. Zacks Research downgraded Safe Pro Group from a “hold” rating to a “strong sell” rating in a report on Thursday, February 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Safe Pro Group in a report on Thursday, January 22nd.

Hedge Funds Weigh In On Safe Pro Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. Citadel Advisors LLC acquired a new stake in Safe Pro Group during the 3rd quarter worth approximately $3,940,000. Ghisallo Capital Management LLC acquired a new position in Safe Pro Group during the fourth quarter valued at approximately $1,190,000. Tudor Investment Corp ET AL purchased a new stake in Safe Pro Group during the third quarter worth approximately $1,785,000. Cresset Asset Management LLC increased its position in shares of Safe Pro Group by 95.6% in the third quarter. Cresset Asset Management LLC now owns 283,485 shares of the company’s stock worth $1,990,000 after acquiring an additional 138,556 shares in the last quarter. Finally, NewEdge Advisors LLC acquired a new stake in shares of Safe Pro Group in the third quarter worth $393,000.

Safe Pro Group Price Performance

Safe Pro Group stock opened at $4.11 on Friday. Safe Pro Group has a 1 year low of $1.47 and a 1 year high of $9.16. The firm has a 50 day moving average price of $4.55 and a 200 day moving average price of $5.27. The company has a market cap of $85.86 million, a price-to-earnings ratio of -4.89 and a beta of 3.91. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.16 and a current ratio of 7.60.

Safe Pro Group (NASDAQ:SPAI) last issued its quarterly earnings results on Tuesday, March 31st. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.05). The company had revenue of $0.23 million for the quarter, compared to analyst estimates of $0.10 million. Safe Pro Group had a negative return on equity of 280.18% and a negative net margin of 968.74%.

Safe Pro Group announced that its Board of Directors has approved a stock buyback 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 stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

About Safe Pro Group

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.