Short Interest in Safe Pro Group Inc. (NASDAQ:SPAI) Rises By 38.8%

Safe Pro Group Inc. (NASDAQ:SPAI) saw a significant increase in short interest in February. As of February 27th, there was short interest totaling 766,233 shares, an increase of 38.8% from the February 12th total of 552,106 shares. Currently, 8.1% of the company’s stock are short sold. Based on an average trading volume of 820,176 shares, the short-interest ratio is presently 0.9 days. Based on an average trading volume of 820,176 shares, the short-interest ratio is presently 0.9 days. Currently, 8.1% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on SPAI shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Safe Pro Group in a research report on Thursday, January 22nd. Lake Street Capital initiated coverage on Safe Pro Group in a research report on Tuesday, November 18th. They issued a “buy” rating and a $9.00 price objective for the company. Zacks Research downgraded Safe Pro Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 5th. 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 equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Safe Pro Group currently has an average rating of “Moderate Buy” and an average target price of $10.00.

Safe Pro Group Stock Performance

SPAI stock traded down $0.03 during trading on Friday, reaching $4.82. The company had a trading volume of 263,307 shares, compared to its average volume of 577,089. The company has a market cap of $101.09 million, a price-to-earnings ratio of -6.43 and a beta of 3.59. Safe Pro Group has a twelve month low of $1.47 and a twelve month high of $9.16. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.16 and a current ratio of 7.60. The firm has a 50-day simple moving average of $4.99 and a 200-day simple moving average of $5.57.

Safe Pro Group declared that its board has initiated a stock repurchase plan on Thursday, December 18th that permits the company to repurchase $3.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 4.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Safe Pro Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SPAI. Atlantic Union Bankshares Corp acquired a new position in shares of Safe Pro Group in the fourth quarter valued at about $42,000. Barclays PLC acquired a new stake in shares of Safe Pro Group during the fourth quarter worth about $44,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of Safe Pro Group during the fourth quarter worth about $65,000. DGS Capital Management LLC purchased a new stake in Safe Pro Group in the fourth quarter valued at approximately $79,000. Finally, Prospera Financial Services Inc purchased a new stake in Safe Pro Group in the third quarter valued at approximately $82,000.

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.