Safe Pro Group Inc. (NASDAQ:SPAI) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Safe Pro Group Inc. (NASDAQ:SPAI) have been given a consensus rating of “Moderate Buy” by the five research firms that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, one has given a buy rating and two have issued a strong buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $10.00.

Several equities research analysts recently weighed in on SPAI shares. Wall Street Zen cut Safe Pro Group from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Lake Street Capital started coverage on Safe Pro Group in a research report on Tuesday, November 18th. They issued a “buy” rating and a $9.00 price objective for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Safe Pro Group in a research note on Thursday, January 22nd. Finally, Zacks Research downgraded 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

Shares of Safe Pro Group stock opened at $4.40 on Friday. 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 has a 52-week low of $1.47 and a 52-week high of $9.16. The company has a fifty day moving average of $4.90 and a 200-day moving average of $5.49. The stock has a market capitalization of $92.27 million, a price-to-earnings ratio of -5.87 and a beta of 3.72.

Safe Pro Group (NASDAQ:SPAI) last posted its quarterly earnings results 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 return on equity of 280.18% and a negative net margin of 968.74%.The business had revenue of $0.10 million during the quarter, compared to the consensus estimate of $0.10 million.

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

Institutional Trading of Safe Pro Group

A number of institutional investors have recently modified their holdings of the company. Atlantic Union Bankshares Corp purchased a new position in Safe Pro Group during the 4th quarter valued at about $42,000. Forefront Wealth Management Inc. grew its position in shares of Safe Pro Group by 122.6% in 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. Tudor Investment Corp ET AL purchased a new position in shares of Safe Pro Group during the third quarter valued at approximately $1,785,000. NewEdge Advisors LLC purchased a new position in shares of Safe Pro Group during the third quarter valued at approximately $393,000. Finally, Citadel Advisors LLC bought a new position in shares of Safe Pro Group during the third quarter valued at approximately $3,940,000.

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.