Safe Pro Group (NASDAQ:SPAI) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Safe Pro Group (NASDAQ:SPAI) from a sell rating to a hold rating in a research note released on Saturday morning,Wall Street Zen reports.

Several other research analysts have also weighed in on the company. Zacks Research raised Safe Pro Group from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. Weiss Ratings raised Safe Pro Group from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, August 17th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Safe Pro Group presently has an average rating of “Hold” and a consensus price target of $9.00.

Safe Pro Group Trading Down 2.0%

SPAI opened at $4.49 on Friday. Safe Pro Group has a twelve month low of $3.23 and a twelve month high of $9.05. The company has a quick ratio of 8.22, a current ratio of 8.76 and a debt-to-equity ratio of 0.01. The company has a fifty day moving average of $4.47 and a 200-day moving average of $4.52. The stock has a market cap of $91.43 million, a PE ratio of -6.15 and a beta of 3.66.

Safe Pro Group (NASDAQ:SPAI) last announced its earnings results on Friday, August 14th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). The firm had revenue of $1.33 million for 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%. On average, sell-side analysts predict that Safe Pro Group will post -0.55 EPS for the current year.

Insider Buying and Selling at Safe Pro Group

In related news, CEO Daniyel Erdberg sold 1,000,000 shares of the business’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $4.00, for a total transaction of $4,000,000.00. Following the transaction, the chief executive officer owned 3,749,058 shares in the company, valued at $14,996,232. The trade was a 21.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 54.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Safe Pro Group

A number of large investors have recently bought and sold shares of the stock. Cresset Asset Management LLC increased its stake in 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 in the last quarter. Citadel Advisors LLC acquired a new stake in shares of Safe Pro Group in the 3rd quarter valued at about $3,940,000. NewEdge Advisors LLC bought a new stake in Safe Pro Group in the 3rd quarter valued at about $393,000. Atlantic Union Bankshares Corp bought a new stake in Safe Pro Group in the 4th quarter valued at about $42,000. Finally, Geode Capital Management LLC increased its position 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 in the last quarter.

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.