Safe Pro Group (NASDAQ:SPAI) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Safe Pro Group (NASDAQ:SPAI) from a hold rating to a sell rating in a research report report published on Saturday.

SPAI has been the subject of several other research reports. Weiss Ratings raised Safe Pro Group from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, August 17th. Zacks Research raised Safe Pro Group from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $11.00.

Safe Pro Group Stock Performance

Shares of Safe Pro Group stock opened at $5.37 on Friday. The company has a current ratio of 8.76, a quick ratio of 8.22 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average price of $4.34 and a two-hundred day moving average price of $4.46. Safe Pro Group has a 1-year low of $3.23 and a 1-year high of $9.16. The company has a market cap of $109.33 million, a P/E ratio of -7.36 and a beta of 3.56.

Safe Pro Group (NASDAQ:SPAI) last posted its quarterly earnings data on Friday, August 14th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.01). The business had revenue of $1.33 million during the quarter, compared to the consensus estimate of $1.22 million. Safe Pro Group had a negative return on equity of 107.61% and a negative net margin of 500.00%. As a group, analysts anticipate that Safe Pro Group will post -0.55 EPS for the current year.

Hedge Funds Weigh In On Safe Pro Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Citadel Advisors LLC acquired a new position in Safe Pro Group during the 3rd quarter worth approximately $3,940,000. Ghisallo Capital Management LLC bought a new position in Safe Pro Group in the fourth quarter worth approximately $1,190,000. Perkins Capital Management Inc. acquired a new stake in Safe Pro Group in the first quarter valued at approximately $881,000. BlackRock Inc. acquired a new stake in Safe Pro Group in the second quarter valued at approximately $317,000. Finally, NewEdge Advisors LLC bought a new stake in shares of Safe Pro Group during the third quarter valued at approximately $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.