Safe Pro Group (NASDAQ:SPAI) Issues Quarterly Earnings Results

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

Safe Pro Group Stock Performance

SPAI stock traded up $0.14 during trading on Thursday, hitting $4.14. The company had a trading volume of 71,651 shares, compared to its average volume of 351,118. The firm has a 50-day moving average price of $4.63 and a 200-day moving average price of $5.32. 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 firm has a market cap of $86.73 million, a PE ratio of -4.92 and a beta of 3.90. Safe Pro Group has a 1-year low of $1.47 and a 1-year high of $9.16.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SPAI. Weiss Ratings restated a “sell (d-)” rating on shares of Safe Pro Group in a research report on Thursday, January 22nd. Zacks Research downgraded shares of Safe Pro Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 5th. 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $10.00.

Safe Pro Group declared that its board has initiated a share buyback program on Thursday, December 18th that authorizes the company to buyback $3.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 4.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Cresset Asset Management LLC increased its holdings in shares of Safe Pro Group by 4.6% in the second quarter. Cresset Asset Management LLC now owns 144,929 shares of the company’s stock valued at $399,000 after purchasing an additional 6,346 shares during the period. Citadel Advisors LLC purchased a new position in Safe Pro Group in the 3rd quarter valued at $3,940,000. NewEdge Advisors LLC purchased a new position in Safe Pro Group in the 3rd quarter valued at $393,000. Geode Capital Management LLC increased its stake in Safe Pro Group by 66.3% in the 4th quarter. Geode Capital Management LLC now owns 128,627 shares of the company’s stock valued at $535,000 after buying an additional 51,283 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Safe Pro Group by 20.0% in the 4th quarter. Renaissance Technologies LLC now owns 77,500 shares of the company’s stock valued at $322,000 after buying an additional 12,900 shares during the period.

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.