Safe Pro Group Inc. (NASDAQ:SPAI) Short Interest Down 27.2% in April

Key Points

• Short interest fell 27.2% to 479,652 shares as of April 15, representing about 5.1% of the float and a days-to-cover ratio of 2.3 based on average daily volume.
• Institutional activity increased, with Cresset Asset Management boosting its stake to 144,929 shares and Renaissance Technologies lifting its position to 77,500 shares, while several other firms initiated small stakes.
• Analysts are mixed: MarketBeat shows a consensus "Moderate Buy" with a $10 target, but the company reported Q1 EPS of -$0.15 (missing estimates), has highly negative margins and ROE, and trades around $4.25 with a market cap near $88.8M.

Safe Pro Group Inc. (NASDAQ:SPAI - Get Free Report) was the recipient of a large decrease in short interest in the month of April. As of April 15th, there was short interest totaling 479,652 shares, a decrease of 27.2% from the March 31st total of 658,638 shares. Approximately 5.1% of the company's stock are short sold. Based on an average daily trading volume, of 208,903 shares, the days-to-cover ratio is presently 2.3 days.

Institutional Investors Weigh In On Safe Pro Group

Hedge funds have recently made changes to their positions in the stock. Cresset Asset Management LLC lifted its position in shares of 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 buying an additional 6,346 shares during the last quarter. Atlantic Union Bankshares Corp purchased a new stake in shares of Safe Pro Group during the fourth quarter valued at about $42,000. Barclays PLC purchased a new stake in shares of Safe Pro Group during the fourth quarter valued at about $44,000. Prospera Financial Services Inc purchased a new stake in shares of Safe Pro Group during the third quarter valued at about $82,000. Finally, Renaissance Technologies LLC lifted its position in shares of Safe Pro Group by 20.0% during the fourth quarter. Renaissance Technologies LLC now owns 77,500 shares of the company's stock valued at $322,000 after buying an additional 12,900 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SPAI. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Safe Pro Group in a report on Tuesday, April 21st. Zacks Research cut shares of Safe Pro Group from a "hold" rating to a "strong sell" rating in a research note 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 stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $10.00.

Safe Pro Group Trading Down 0.7%

SPAI stock opened at $4.25 on Wednesday. The firm has a fifty day moving average price of $4.40 and a 200 day moving average price of $4.91. Safe Pro Group has a fifty-two week low of $2.39 and a fifty-two week high of $9.16. The company has a debt-to-equity ratio of 0.01, a quick ratio of 13.84 and a current ratio of 14.33. The firm has a market cap of $88.78 million, a PE ratio of -5.06 and a beta of 3.91.

Safe Pro Group (NASDAQ:SPAI - Get Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.05). The firm had revenue of $0.23 million for the quarter, compared to analysts' expectations of $0.10 million. Safe Pro Group had a negative return on equity of 182.66% and a negative net margin of 2,359.64%. Sell-side analysts anticipate that Safe Pro Group will post -0.48 earnings per share for the current fiscal year.

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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