Safe Pro Group (NASDAQ:SPAI) Posts Quarterly Earnings Results

Key Points

• Safe Pro Group reported a quarterly loss of ($0.13) earnings per share, with a negative return on equity of 363.40% and a negative net margin of 500.73%.
• The company's stock price increased to $3.83, and it has a 1 year low of $1.47 and a high of $6.50, with a market capitalization of $58.10 million.
• Litchfield Hills Research upgraded Safe Pro Group to a "strong-buy" rating, setting a price target of $8.00 on the stock.

Safe Pro Group (NASDAQ:SPAI - Get Free Report) announced its quarterly earnings results on Thursday. The company reported ($0.13) earnings per share for the quarter, Zacks reports. Safe Pro Group had a negative return on equity of 363.40% and a negative net margin of 500.73%.

Safe Pro Group Price Performance

Shares of NASDAQ SPAI traded up $0.13 during midday trading on Thursday, hitting $3.83. The stock had a trading volume of 39,346 shares, compared to its average volume of 333,890. Safe Pro Group has a 1 year low of $1.47 and a 1 year high of $6.50. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.06. The stock has a 50 day simple moving average of $3.22 and a 200-day simple moving average of $3.03. The company has a market capitalization of $58.10 million and a PE ratio of -4.73.

Analyst Ratings Changes

Separately, Litchfield Hills Research upgraded Safe Pro Group to a "strong-buy" rating and set a $8.00 price target on the stock in a research note on Thursday, July 17th.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Safe Pro Group stock. Cresset Asset Management LLC lifted 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 disclosure with the SEC. The institutional investor owned 144,929 shares of the company's stock after buying an additional 6,346 shares during the quarter. Cresset Asset Management LLC owned approximately 0.96% of Safe Pro Group worth $399,000 at the end of the most recent reporting 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.

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