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

Safe Pro Group Inc. (NASDAQ:SPAI) has received an average recommendation of “Moderate Buy” from the five ratings firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, one has given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $10.00.

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

Safe Pro Group Price Performance

SPAI stock opened at $4.40 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.60 and a quick ratio of 7.16. 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 of $4.90 and a 200 day moving average of $5.49. The company has a market cap of $92.27 million, a P/E ratio of -5.87 and a beta of 3.72.

Safe Pro Group (NASDAQ:SPAI) last posted its quarterly earnings data on Friday, November 14th. The company reported ($0.29) earnings per share 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 for the quarter, compared to the consensus estimate of $0.10 million.

Safe Pro Group announced that its Board of Directors has authorized a share buyback program on Thursday, December 18th that allows the company to repurchase $3.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 4.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Safe Pro Group

Several large investors have recently made changes to their positions in SPAI. Citadel Advisors LLC purchased a new stake in shares of Safe Pro Group in the 3rd quarter worth approximately $3,940,000. Cresset Asset Management LLC raised its stake in Safe Pro Group by 95.6% during the third quarter. Cresset Asset Management LLC now owns 283,485 shares of the company’s stock valued at $1,990,000 after buying an additional 138,556 shares during the last quarter. Tudor Investment Corp ET AL bought a new stake in Safe Pro Group in the third quarter worth $1,785,000. Forefront Wealth Management Inc. grew its stake in shares of Safe Pro Group by 122.6% in the fourth quarter. Forefront Wealth Management Inc. now owns 67,900 shares of the company’s stock worth $282,000 after acquiring an additional 37,400 shares during the last quarter. Finally, NewEdge Advisors LLC bought a new position in shares of Safe Pro Group during the third quarter valued at $393,000.

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.