Perkins Capital Management Inc. Takes $881,000 Position in Safe Pro Group Inc. $SPAI

Perkins Capital Management Inc. bought a new stake in Safe Pro Group Inc. (NASDAQ:SPAI) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 231,250 shares of the company’s stock, valued at approximately $881,000.

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

Safe Pro Group Stock Performance

Shares of SPAI opened at $4.33 on Wednesday. The stock has a market capitalization of $90.43 million, a P/E ratio of -6.10 and a beta of 3.28. The company has a debt-to-equity ratio of 0.01, a quick ratio of 12.88 and a current ratio of 13.27. Safe Pro Group Inc. has a 1 year low of $2.39 and a 1 year high of $9.16. The company’s fifty day moving average is $4.67 and its two-hundred day moving average is $4.63.

Safe Pro Group (NASDAQ:SPAI) last released its earnings results on Friday, May 15th. The company reported ($0.14) EPS for the quarter, topping 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 analysts’ expectations of $1.01 million. On average, sell-side analysts predict that Safe Pro Group Inc. will post -0.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Weiss Ratings downgraded shares of Safe Pro Group from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 23rd. Zacks Research upgraded Safe Pro Group from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. Finally, Wall Street Zen upgraded Safe Pro Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $10.00.

Safe Pro Group 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.