Safe Pro Group Inc. (NASDAQ:SPAI) Given Consensus Recommendation of “Moderate Buy” by Analysts

Safe Pro Group Inc. (NASDAQ:SPAI) has earned an average recommendation of “Moderate Buy” from the five research firms that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, one has given a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $10.00.

SPAI has been the subject of several research analyst reports. Lake Street Capital initiated coverage on shares of Safe Pro Group in a report on Tuesday, November 18th. They set a “buy” rating and a $9.00 price target for the company. Zacks Research lowered Safe Pro Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Safe Pro Group in a research report on Thursday, January 22nd. Finally, Wall Street Zen cut Safe Pro Group from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd.

Hedge Funds Weigh In On Safe Pro Group

Several large investors have recently modified their holdings of SPAI. Atlantic Union Bankshares Corp bought a new stake in shares of Safe Pro Group in the fourth quarter worth $42,000. Prospera Financial Services Inc bought a new stake in shares of Safe Pro Group in the 3rd quarter valued at about $82,000. Forefront Wealth Management Inc. bought a new stake in shares of Safe Pro Group in the 3rd quarter valued at about $214,000. Forefront Wealth Partners LLC acquired a new stake in shares of Safe Pro Group in the third quarter valued at about $214,000. Finally, NewEdge Advisors LLC bought a new position in shares of Safe Pro Group during the third quarter worth about $393,000.

Safe Pro Group Stock Performance

Shares of NASDAQ:SPAI opened at $4.08 on Friday. The company’s 50 day moving average price is $4.86 and its two-hundred day moving average price is $5.51. Safe Pro Group has a 12-month low of $1.47 and a 12-month high of $9.16. The firm has a market cap of $85.56 million, a PE ratio of -5.44 and a beta of 3.72. The company has a quick ratio of 7.16, a current ratio of 7.60 and a debt-to-equity ratio of 0.02.

Safe Pro Group (NASDAQ:SPAI) last announced its quarterly earnings data on Friday, November 14th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.18). Safe Pro Group had a negative net margin of 968.74% and a negative return on equity of 280.18%. The firm had revenue of $0.10 million during the quarter, compared to the consensus estimate of $0.10 million.

Safe Pro Group announced that its board has approved a stock repurchase program on Thursday, December 18th that allows the company to buyback $3.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 4.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

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.