Safe Pro Group (NASDAQ:SPAI) CEO Daniyel Erdberg Sells 1,000,000 Shares of Stock

Key Points

• CEO Daniyel Erdberg sold 1 million shares of Safe Pro Group at an average price of $4.00, generating $4 million. His remaining 3,749,058 shares represent a 21.06% reduction in ownership.
• SPAI shares fell 2.0% to $4.49, with a market capitalization of approximately $91.4 million. The stock has traded between $3.23 and $9.05 over the past year.
• Safe Pro Group reported a quarterly loss of $0.15 per share, slightly worse than estimates, while revenue of $1.33 million exceeded expectations. Analyst sentiment is mixed, resulting in a consensus Hold rating and a $9.00 average price target.

Safe Pro Group Inc. (NASDAQ:SPAI - Get Free Report) CEO Daniyel Erdberg sold 1,000,000 shares of Safe Pro Group stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $4.00, for a total transaction of $4,000,000.00. Following the transaction, the chief executive officer owned 3,749,058 shares of the company's stock, valued at $14,996,232. This represents a 21.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Safe Pro Group Stock Down 2.0%

Shares of SPAI traded down $0.09 on Friday, reaching $4.49. The company's stock had a trading volume of 39,949 shares, compared to its average volume of 539,966. Safe Pro Group Inc. has a twelve month low of $3.23 and a twelve month high of $9.05. The stock has a market capitalization of $91.42 million, a PE ratio of -6.15 and a beta of 3.66. 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 firm has a fifty day moving average of $4.47 and a 200-day moving average of $4.52.

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

Analyst Upgrades and Downgrades

SPAI has been the subject of a number of analyst reports. Zacks Research raised Safe Pro Group from a "strong sell" rating to a "hold" rating in a research report on Monday, June 1st. 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. Finally, Wall Street Zen cut shares of Safe Pro Group from a "hold" rating to a "sell" rating in a report on Saturday, August 22nd. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $9.00.

Hedge Funds Weigh In On Safe Pro Group

A number of hedge funds and other institutional investors have recently made changes to their positions in SPAI. Citadel Advisors LLC bought a new stake in Safe Pro Group in the third quarter worth about $3,940,000. Ghisallo Capital Management LLC bought a new position in shares of Safe Pro Group during the 4th quarter valued at approximately $1,190,000. Tudor Investment Corp ET AL increased its stake in shares of Safe Pro Group by 9.1% during the 4th quarter. Tudor Investment Corp ET AL now owns 277,285 shares of the company's stock worth $1,154,000 after purchasing an additional 23,018 shares during the last quarter. Perkins Capital Management Inc. purchased a new stake in shares of Safe Pro Group during the 1st quarter worth approximately $881,000. Finally, Cresset Asset Management LLC raised its holdings in shares of Safe Pro Group by 4.6% in the 2nd quarter. Cresset Asset Management LLC now owns 144,929 shares of the company's stock worth $399,000 after purchasing an additional 6,346 shares during the period.

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.

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