Safe Pro Group (NASDAQ:SPAI) Releases Quarterly Earnings Results, Misses Expectations By $0.18 EPS

Safe Pro Group (NASDAQ:SPAI) announced its quarterly earnings data on Thursday. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.18), FiscalAI reports. The firm had revenue of $0.10 million during the quarter. Safe Pro Group had a negative net margin of 731.46% and a negative return on equity of 328.85%.

Safe Pro Group Price Performance

SPAI stock traded down $0.17 during mid-day trading on Friday, reaching $4.37. 200,274 shares of the company traded hands, compared to its average volume of 446,144. Safe Pro Group has a 52-week low of $1.47 and a 52-week high of $9.16. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.64 and a quick ratio of 1.27. The company has a market capitalization of $91.64 million, a P/E ratio of -5.46 and a beta of 3.32. The company has a fifty day moving average price of $6.76 and a 200-day moving average price of $4.68.

Hedge Funds Weigh In On Safe Pro Group

A hedge fund recently raised its stake in Safe Pro Group stock. Cresset Asset Management LLC lifted its position in shares of Safe Pro Group Inc. (NASDAQ:SPAI) by 4.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 144,929 shares of the company’s stock after acquiring an additional 6,346 shares during the quarter. Cresset Asset Management LLC owned 0.96% of Safe Pro Group worth $399,000 as of its most recent SEC filing.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Northland Securities assumed coverage on shares of Safe Pro Group in a research note on Tuesday, September 9th. They set an “outperform” rating and a $13.00 price target on the stock. Litchfield Hills Research upgraded Safe Pro Group to a “strong-buy” rating and set a $8.00 target price for the company in a research report on Thursday, July 17th. Wall Street Zen raised shares of Safe Pro Group to a “hold” rating in a research note on Saturday, August 30th. Northland Capmk raised shares of Safe Pro Group to a “strong-buy” rating in a research report on Tuesday, September 9th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Safe Pro Group in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Safe Pro Group has an average rating of “Buy” and an average target price of $10.50.

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.