Safe Pro Group (NASDAQ:SPAI) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Safe Pro Group from “sell” to “hold.” MarketBeat reports a consensus “hold” rating from three analysts, with an average price target of $9.00.
• Safe Pro Group reported a quarterly loss of $0.15 per share, slightly worse than estimates, while revenue of $1.33 million exceeded expectations. Analysts anticipate a full-year loss of $0.55 per share.
• CEO Daniyel Erdberg sold 1 million shares for approximately $4 million, reducing his ownership by 21.06%; insiders still own 54.8% of the company. Shares recently opened at $4.49, near their 50-day and 200-day moving averages.

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

Other analysts also recently issued reports about the stock. Weiss Ratings raised shares of Safe Pro Group from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, August 17th. Zacks Research upgraded shares of Safe Pro Group from a "strong sell" rating to a "hold" rating in a research report on Monday, June 1st. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $9.00.

Safe Pro Group Stock Down 2.0%

Shares of SPAI stock opened at $4.49 on Friday. The stock has a 50 day moving average of $4.47 and a 200 day moving average of $4.52. The company has a current ratio of 8.76, a quick ratio of 8.22 and a debt-to-equity ratio of 0.01. The stock has a market cap of $91.42 million, a P/E ratio of -6.15 and a beta of 3.66. Safe Pro Group has a twelve month low of $3.23 and a twelve month high of $9.05.

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

Insider Buying and Selling

In other Safe Pro Group news, CEO Daniyel Erdberg sold 1,000,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $4.00, for a total value of $4,000,000.00. Following the sale, the chief executive officer directly owned 3,749,058 shares of the company's stock, valued at approximately $14,996,232. This trade represents a 21.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 54.80% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Cresset Asset Management LLC lifted its holdings in Safe Pro Group by 4.6% during the second quarter. Cresset Asset Management LLC now owns 144,929 shares of the company's stock valued at $399,000 after purchasing an additional 6,346 shares in the last quarter. Citadel Advisors LLC purchased a new position in Safe Pro Group in the 3rd quarter valued at about $3,940,000. NewEdge Advisors LLC acquired a new stake in Safe Pro Group in the 3rd quarter worth about $393,000. Atlantic Union Bankshares Corp acquired a new stake in Safe Pro Group in the 4th quarter worth about $42,000. Finally, Geode Capital Management LLC boosted its holdings in Safe Pro Group by 66.3% in the 4th quarter. Geode Capital Management LLC now owns 128,627 shares of the company's stock worth $535,000 after buying an additional 51,283 shares during the last quarter.

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.

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