Safe Pro Group (NASDAQ:SPAI) Shares Down 1.3% - Time to Sell?

Key Points

• Safe Pro Group shares fell 1.3% to $3.79 in midday trading, below both the 50-day ($4.49) and 200-day ($4.59) moving averages.
• Analyst sentiment has improved from predominantly bearish ratings, with the stock now carrying a “Moderate Buy” consensus and an average price target of $11.00.
• The company remains unprofitable, reporting a quarterly loss of $0.14 per share, a negative net margin of 800.91%, and analysts forecasting a full-year loss of $0.50 per share.

Safe Pro Group Inc. (NASDAQ:SPAI - Get Free Report) fell 1.3% during mid-day trading on Tuesday . The stock traded as low as $3.58 and last traded at $3.79. Approximately 64,646 shares changed hands during mid-day trading, a decline of 12% from the average daily volume of 73,416 shares. The stock had previously closed at $3.84.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on SPAI shares. Weiss Ratings upgraded Safe Pro Group from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, July 17th. Wall Street Zen upgraded Safe Pro Group from a "sell" rating to a "hold" rating in a report on Saturday, June 6th. Finally, Zacks Research raised Safe Pro Group from a "strong sell" rating to a "hold" rating in a research report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $11.00.

Safe Pro Group Stock Performance

The company has a market cap of $79.15 million, a P/E ratio of -5.34 and a beta of 3.52. The firm has a 50 day moving average of $4.49 and a 200-day moving average of $4.59. The company has a quick ratio of 12.88, a current ratio of 13.27 and a debt-to-equity ratio of 0.01.

Safe Pro Group (NASDAQ:SPAI - Get Free Report) last released its quarterly earnings data on Friday, May 15th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.01. Safe Pro Group had a negative return on equity of 119.17% and a negative net margin of 800.91%.The company had revenue of $1.22 million for the quarter, compared to the consensus estimate of $1.01 million. As a group, sell-side analysts anticipate that Safe Pro Group Inc. will post -0.5 EPS for the current fiscal year.

Institutional Trading of Safe Pro Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. Cresset Asset Management LLC grew its holdings in Safe Pro Group by 4.6% during the 2nd quarter. Cresset Asset Management LLC now owns 144,929 shares of the company's stock worth $399,000 after acquiring an additional 6,346 shares in the last quarter. Citadel Advisors LLC bought a new stake in shares of Safe Pro Group in the 3rd quarter valued at about $3,940,000. NewEdge Advisors LLC purchased a new stake in shares of Safe Pro Group in the 3rd quarter worth approximately $393,000. Tudor Investment Corp ET AL purchased a new stake in shares of Safe Pro Group in the 3rd quarter worth approximately $1,785,000. Finally, Forefront Wealth Management Inc. boosted its stake in shares of Safe Pro Group by 122.6% during the fourth quarter. Forefront Wealth Management Inc. now owns 67,900 shares of the company's stock valued at $282,000 after purchasing an additional 37,400 shares in the last 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. 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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