Safe Pro Group (NASDAQ:SPAI) Upgraded 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 report released on Saturday morning,Wall Street Zen reports.

Several other research analysts also recently issued reports on SPAI. Zacks Research upgraded 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 equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $9.00.

Safe Pro Group Price Performance

Shares of NASDAQ SPAI opened at $4.43 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 company’s 50-day moving average price is $4.47 and its 200 day moving average price is $4.53. Safe Pro Group has a 52 week low of $3.23 and a 52 week high of $9.05. The stock has a market cap of $90.19 million, a price-to-earnings ratio of -6.07 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 (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). Safe Pro Group had a negative return on equity of 107.61% and a negative net margin of 500.00%.The business had revenue of $1.33 million for the quarter, compared to analyst estimates of $1.22 million. As a group, research analysts forecast that Safe Pro Group will post -0.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Safe Pro Group news, CEO Daniyel Erdberg sold 1,000,000 shares of the company’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $4.00, for a total value of $4,000,000.00. Following the transaction, the chief executive officer directly owned 3,749,058 shares in the company, valued at approximately $14,996,232. This represents a 21.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 54.80% of the company’s stock.

Institutional Investors Weigh In On Safe Pro Group

Several hedge funds have recently modified their holdings of SPAI. Perkins Capital Management Inc. purchased a new stake in shares of Safe Pro Group during the first quarter worth about $881,000. DGS Capital Management LLC acquired a new stake in Safe Pro Group during the fourth quarter worth approximately $79,000. Atlantic Union Bankshares Corp acquired a new stake in Safe Pro Group during the fourth quarter worth approximately $42,000. Squarepoint Ops LLC purchased a new stake in Safe Pro Group in the 2nd quarter worth approximately $88,000. Finally, BlackRock Inc. purchased a new stake in Safe Pro Group in the 2nd quarter worth approximately $317,000.

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.