Safe Pro Group (NASDAQ:SPAI) Downgraded by Wall Street Zen to "Sell"

Key Points

• Wall Street Zen downgraded Safe Pro Group from “hold” to “sell.” Despite that call, the stock’s consensus rating is “Hold,” based on one Buy, one Hold, and one Sell rating, with an average price target of $9.
• Safe Pro Group reported a quarterly loss of $0.15 per share, slightly worse than analysts’ $0.14 loss estimate, while revenue of $1.33 million topped the $1.22 million consensus.
• CEO Daniyel Erdberg sold 1 million shares for $4 million, reducing his ownership by 21.06%; insiders collectively own 43.6% of the stock.

Safe Pro Group (NASDAQ:SPAI - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings upgraded shares of Safe Pro Group from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, August 17th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $9.00.

Safe Pro Group Stock Performance

SPAI opened at $2.77 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.22 and a current ratio of 8.76. The company's fifty day moving average price is $3.84 and its two-hundred day moving average price is $4.34. Safe Pro Group has a 1-year low of $2.52 and a 1-year high of $6.70.

Safe Pro Group (NASDAQ:SPAI - Get Free Report) last released its quarterly earnings data on Friday, August 14th. The company reported ($0.15) earnings per share for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.01). The business had revenue of $1.33 million during the quarter, compared to the consensus estimate of $1.22 million. Safe Pro Group had a negative net margin of 500.00% and a negative return on equity of 107.61%. As a group, equities research analysts expect that Safe Pro Group will post -0.55 earnings per share for the current year.

Insider Activity

In related news, CEO Daniyel Erdberg sold 1,000,000 shares of the company's stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $4.00, for a total transaction of $4,000,000.00. Following the completion of the sale, the chief executive officer owned 3,749,058 shares in the company, valued at approximately $14,996,232. This represents a 21.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 43.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Safe Pro Group

Several large investors have recently bought and sold shares of SPAI. BlackRock Inc. bought a new stake in shares of Safe Pro Group in the 2nd quarter worth $317,000. GSA Capital Partners LLP purchased a new stake in shares of Safe Pro Group in the second quarter valued at about $97,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Safe Pro Group in the second quarter valued at about $88,000.

Safe Pro Group Company Profile

Safe Pro Group is a technology and services company focused on security and defense applications. Its businesses combine artificial intelligence, drone-based imagery and protective equipment. The company's Safe Pro AI platform uses computer vision to analyze aerial images and identify potential explosive hazards, including landmines and unexploded ordnance. The technology is intended to help users map and assess threats and support clearance efforts. Safe Pro Group also provides drone-based imaging services through Airborne Response and ballistic protective equipment through Safe-Pro USA.

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