Safe Pro Group Inc. (NASDAQ:SPAI) Given Average Recommendation of “Buy” by Brokerages

Shares of Safe Pro Group Inc. (NASDAQ:SPAI) have been given an average recommendation of “Buy” by the five ratings firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $10.00.

Several analysts have commented on SPAI shares. Northland Securities started coverage on shares of Safe Pro Group in a research report on Tuesday, September 9th. They issued an “outperform” rating and a $13.00 price objective on the stock. Lake Street Capital assumed coverage on shares of Safe Pro Group in a research note on Tuesday, November 18th. They set a “buy” rating and a $9.00 price target for the company. Wall Street Zen cut shares of Safe Pro Group from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Northland Capmk upgraded Safe Pro Group to a “strong-buy” rating in a research note on Tuesday, September 9th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Safe Pro Group in a research report on Wednesday, October 8th.

Safe Pro Group Stock Up 5.5%

SPAI stock opened at $4.38 on Friday. The stock has a market cap of $91.85 million, a P/E ratio of -5.84 and a beta of 3.53. The company has a current ratio of 7.60, a quick ratio of 7.16 and a debt-to-equity ratio of 0.02. The stock’s fifty day simple moving average is $5.75 and its two-hundred day simple moving average is $4.92. Safe Pro Group has a 1-year low of $1.47 and a 1-year high of $9.16.

Safe Pro Group (NASDAQ:SPAI) last released its 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). The business had revenue of $0.10 million for the quarter, compared to the consensus estimate of $0.10 million. Safe Pro Group had a negative return on equity of 280.18% and a negative net margin of 968.74%.

Institutional Investors Weigh In On Safe Pro Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SPAI. Citadel Advisors LLC bought a new stake in Safe Pro Group in the 3rd quarter valued at about $3,940,000. Tudor Investment Corp ET AL purchased a new position in shares of Safe Pro Group in the third quarter worth about $1,785,000. Cresset Asset Management LLC raised its position in shares of Safe Pro Group by 95.6% in the third quarter. Cresset Asset Management LLC now owns 283,485 shares of the company’s stock valued at $1,990,000 after purchasing an additional 138,556 shares during the period. NewEdge Advisors LLC bought a new stake in shares of Safe Pro Group in the third quarter valued at approximately $393,000. Finally, Forefront Wealth Management Inc. purchased a new stake in shares of Safe Pro Group during the 3rd quarter valued at approximately $214,000.

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.