Safe Pro Group Inc. (NASDAQ:SPAI) Short Interest Down 19.8% in March

Key Points

• Short interest fell 19.8% in March to 614,313 shares (about 6.5% of float), with a short-interest ratio of 2.1 days based on average volume.
• Analyst coverage is mixed—MarketBeat shows a consensus of "Moderate Buy" with a $10.00 target, while firms like Weiss Ratings and Zacks have issued sell/strong-sell opinions.
• The board approved a $3.0 million share repurchase program (up to 4.4% of shares), and institutions including Citadel initiated or increased stakes (Citadel's position ≈ $3.94M), signaling institutional interest.

Safe Pro Group Inc. (NASDAQ:SPAI - Get Free Report) was the recipient of a significant decline in short interest in the month of March. As of March 13th, there was short interest totaling 614,313 shares, a decline of 19.8% from the February 26th total of 766,233 shares. Currently, 6.5% of the shares of the stock are sold short. Based on an average trading volume of 297,157 shares, the short-interest ratio is presently 2.1 days.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SPAI. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Safe Pro Group in a research report on Thursday, January 22nd. Zacks Research downgraded Safe Pro Group from a "hold" rating to a "strong sell" rating in a report on Thursday, February 5th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Safe Pro Group currently has an average rating of "Moderate Buy" and a consensus target price of $10.00.

Institutional Trading of Safe Pro Group

A number of institutional investors have recently bought and sold shares of SPAI. Citadel Advisors LLC acquired a new position in Safe Pro Group during the 3rd quarter worth approximately $3,940,000. Ghisallo Capital Management LLC acquired a new stake in Safe Pro Group in the 4th quarter valued at about $1,190,000. Cresset Asset Management LLC grew its holdings in Safe Pro Group by 95.6% during the third quarter. Cresset Asset Management LLC now owns 283,485 shares of the company's stock worth $1,990,000 after purchasing an additional 138,556 shares during the period. Tudor Investment Corp ET AL increased its position in Safe Pro Group by 9.1% during the fourth quarter. Tudor Investment Corp ET AL now owns 277,285 shares of the company's stock worth $1,154,000 after buying an additional 23,018 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Safe Pro Group by 66.3% in the fourth quarter. Geode Capital Management LLC now owns 128,627 shares of the company's stock valued at $535,000 after buying an additional 51,283 shares during the last quarter.

Safe Pro Group Price Performance

Shares of NASDAQ SPAI opened at $3.74 on Monday. Safe Pro Group has a 12-month low of $1.47 and a 12-month high of $9.16. The firm's 50-day simple moving average is $4.79 and its 200 day simple moving average is $5.39. The company has a quick ratio of 7.16, a current ratio of 7.60 and a debt-to-equity ratio of 0.02. The company has a market cap of $78.43 million, a price-to-earnings ratio of -4.99 and a beta of 3.58.

Safe Pro Group announced that its Board of Directors has approved a stock repurchase program on Thursday, December 18th that allows the company to buyback $3.00 million in shares. This buyback authorization allows the company to buy up to 4.4% of its stock through open market purchases. Stock buyback programs are generally 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.

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