Safe Pro Group (NASDAQ:SPAI) Coverage Initiated by Analysts at Northland Securities

Key Points

• Northland Securities has initiated coverage of Safe Pro Group (NASDAQ:SPAI) with an "outperform" rating and a price target of $13.00, indicating a potential upside of 96.67% from its previous close.
• The average rating for Safe Pro Group among analysts is currently "Strong Buy" with an average target price of $10.50, following recent upgrades from various analysts.
• Safe Pro Group reported a quarterly loss of ($0.13) earnings per share and a revenue of $0.09 million, reflecting a negative net margin of 731.46% and a negative return on equity of 328.85%.

Analysts at Northland Securities initiated coverage on shares of Safe Pro Group (NASDAQ:SPAI - Get Free Report) in a report released on Tuesday,Benzinga reports. The firm set an "outperform" rating and a $13.00 price target on the stock. Northland Securities' price target would suggest a potential upside of 96.67% from the company's previous close.

A number of other analysts have also weighed in on the company. Wall Street Zen raised Safe Pro Group to a "hold" rating in a research note on Saturday, August 30th. Litchfield Hills Research upgraded Safe Pro Group to a "strong-buy" rating and set a $8.00 price objective for the company in a report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Strong Buy" and an average target price of $10.50.

Safe Pro Group Stock Performance

Shares of NASDAQ:SPAI traded up $0.17 during midday trading on Tuesday, reaching $6.61. The company had a trading volume of 76,420 shares, compared to its average volume of 169,079. The company's 50 day moving average price is $4.27 and its 200 day moving average price is $3.36. The company has a current ratio of 1.64, a quick ratio of 1.27 and a debt-to-equity ratio of 0.06. The stock has a market cap of $106.87 million and a P/E ratio of -8.26. Safe Pro Group has a 52-week low of $1.47 and a 52-week high of $7.39.

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

Institutional Trading of Safe Pro Group

An institutional investor recently raised its position in Safe Pro Group stock. Cresset Asset Management LLC raised its holdings in Safe Pro Group Inc. (NASDAQ:SPAI - Free Report) by 4.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and 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 about 0.96% of Safe Pro Group worth $399,000 at the end of the most recent quarter.

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.

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