Safe Pro Group Inc. (NASDAQ:SPAI) Short Interest Up 110.2% in September

Key Points

• Safe Pro Group Inc. (NASDAQ:SPAI) experienced a significant increase in short interest of 110.2% in September, with total short interest reaching 138,500 shares as of September 30th.
• A number of analysts have issued differing ratings on Safe Pro Group, with two rating it a strong buy and one giving it a sell rating; the current consensus rating is a buy with an average target price of $10.50.
• The stock price of Safe Pro Group has increased by 18.9%, opening at $8.95 on Monday, following substantial growth in both short interest and analyst upgrades.

Safe Pro Group Inc. (NASDAQ:SPAI - Get Free Report) saw a large growth in short interest in September. As of September 30th, there was short interest totaling 138,500 shares, a growth of 110.2% from the September 15th total of 65,900 shares. Based on an average daily volume of 352,700 shares, the short-interest ratio is currently 0.4 days. Approximately 1.9% of the company's stock are short sold. Approximately 1.9% of the company's stock are short sold. Based on an average daily volume of 352,700 shares, the short-interest ratio is currently 0.4 days.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Northland Securities started coverage on Safe Pro Group in a report on Tuesday, September 9th. They issued an "outperform" rating and a $13.00 target price on the stock. Litchfield Hills Research raised Safe Pro Group to a "strong-buy" rating and set a $8.00 price target on the stock in a research report on Thursday, July 17th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Safe Pro Group in a research report on Wednesday, October 8th. Wall Street Zen raised Safe Pro Group to a "hold" rating in a report on Saturday, August 30th. Finally, Northland Capmk raised Safe Pro Group to a "strong-buy" rating in a report on Tuesday, September 9th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Safe Pro Group presently has a consensus rating of "Buy" and an average target price of $10.50.

Safe Pro Group Trading Up 18.9%

Shares of SPAI opened at $8.95 on Monday. The stock has a fifty day moving average price of $6.55 and a two-hundred day moving average price of $4.22. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.27 and a current ratio of 1.64. Safe Pro Group has a 52-week low of $1.47 and a 52-week high of $9.16. The company has a market cap of $168.35 million, a price-to-earnings ratio of -11.19 and a beta of 3.46.

Safe Pro Group (NASDAQ:SPAI - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.13) earnings per share (EPS) for the quarter. The business had revenue of $0.09 million during the quarter. Safe Pro Group had a negative net margin of 731.46% and a negative return on equity of 328.85%.

Institutional Investors Weigh In On Safe Pro Group

An institutional investor recently raised its position in Safe Pro Group stock. Cresset Asset Management LLC increased its stake in shares of Safe Pro Group Inc. (NASDAQ:SPAI - Free Report) by 4.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 144,929 shares of the company's stock after purchasing an additional 6,346 shares during the period. Cresset Asset Management LLC owned approximately 0.96% of Safe Pro Group worth $399,000 as of its most recent SEC filing.

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.

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