Safe Pro Group Inc. (NASDAQ:SPAI) Short Interest Update

Safe Pro Group Inc. (NASDAQ:SPAI) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totaling 613,634 shares, an increase of 32.1% from the December 15th total of 464,648 shares. Based on an average daily volume of 648,605 shares, the days-to-cover ratio is presently 0.9 days. Approximately 6.5% of the company’s shares are sold short. Approximately 6.5% of the company’s shares are sold short. Based on an average daily volume of 648,605 shares, the days-to-cover ratio is presently 0.9 days.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SPAI. Weiss Ratings reiterated a “sell (d-)” rating on shares of Safe Pro Group in a research report on Wednesday, October 8th. Lake Street Capital began coverage on shares of Safe Pro Group in a research report on Tuesday, November 18th. They set a “buy” rating and a $9.00 price target on the stock. Finally, Wall Street Zen lowered Safe Pro Group from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $10.00.

Hedge Funds Weigh In On Safe Pro Group

Large investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC purchased a new position in shares of Safe Pro Group during the third quarter worth about $393,000. Citadel Advisors LLC purchased a new stake in Safe Pro Group in the third quarter worth $3,940,000. Cresset Asset Management LLC boosted its position in Safe Pro Group by 4.6% during the 2nd quarter. Cresset Asset Management LLC now owns 144,929 shares of the company’s stock valued at $399,000 after acquiring an additional 6,346 shares in the last quarter. Tudor Investment Corp ET AL bought a new stake in shares of Safe Pro Group during the third quarter valued at approximately $1,785,000. Finally, Prospera Financial Services Inc purchased a new stake in shares of Safe Pro Group in the 3rd quarter worth about $82,000.

Safe Pro Group Stock Up 2.6%

Shares of Safe Pro Group stock traded up $0.16 during trading on Monday, reaching $6.40. 357,812 shares of the company traded hands, compared to its average volume of 308,910. The firm has a market capitalization of $134.21 million, a PE ratio of -8.53 and a beta of 3.71. Safe Pro Group has a 1-year low of $1.47 and a 1-year high of $9.16. The company has a 50 day moving average price of $4.69 and a 200-day moving average price of $5.28. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.60 and a quick ratio of 7.16.

Safe Pro Group (NASDAQ:SPAI) last posted its quarterly earnings results on Friday, November 14th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $0.10 million during the quarter, compared to analyst estimates of $0.10 million.

Safe Pro Group announced that its board has approved a stock buyback plan on Thursday, December 18th that permits the company to buyback $3.00 million in shares. This buyback authorization permits the company to buy up to 4.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

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.