Perkins Capital Management Inc. Acquires Shares of 231,250 Safe Pro Group Inc. $SPAI

Perkins Capital Management Inc. acquired a new stake in Safe Pro Group Inc. (NASDAQ:SPAI) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 231,250 shares of the company’s stock, valued at approximately $881,000. Perkins Capital Management Inc. owned approximately 1.11% of Safe Pro Group at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of SPAI. Atlantic Union Bankshares Corp acquired a new position in shares of Safe Pro Group during the fourth quarter worth $42,000. Barclays PLC acquired a new stake in Safe Pro Group in the fourth quarter valued at $44,000. Price T Rowe Associates Inc. MD acquired a new stake in Safe Pro Group in the fourth quarter valued at $65,000. DGS Capital Management LLC purchased a new stake in Safe Pro Group during the 4th quarter worth about $79,000. Finally, Forefront Wealth Management Inc. lifted its holdings in Safe Pro Group by 122.6% during the 4th quarter. Forefront Wealth Management Inc. now owns 67,900 shares of the company’s stock worth $282,000 after buying an additional 37,400 shares during the last quarter.

Analyst Upgrades and Downgrades

SPAI has been the topic of a number of recent analyst reports. Weiss Ratings downgraded Safe Pro Group from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 23rd. Zacks Research upgraded Safe Pro Group from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. Finally, Wall Street Zen raised Safe Pro Group from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.00.

Safe Pro Group Price Performance

Shares of SPAI opened at $4.33 on Wednesday. Safe Pro Group Inc. has a 1-year low of $2.39 and a 1-year high of $9.16. The stock has a market cap of $90.43 million, a PE ratio of -6.10 and a beta of 3.28. The company has a debt-to-equity ratio of 0.01, a current ratio of 13.27 and a quick ratio of 12.88. The firm has a fifty day moving average price of $4.67 and a 200 day moving average price of $4.63.

Safe Pro Group (NASDAQ:SPAI) last released its quarterly earnings data on Friday, May 15th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.01. Safe Pro Group had a negative net margin of 800.91% and a negative return on equity of 119.17%. The company had revenue of $1.22 million during the quarter, compared to the consensus estimate of $1.01 million. As a group, sell-side analysts anticipate that Safe Pro Group Inc. will post -0.5 EPS for the current year.

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.