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

Safe Pro Group (NASDAQ:SPAI) posted its quarterly earnings results on Friday. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01), Zacks reports. Safe Pro Group had a negative return on equity of 119.17% and a negative net margin of 800.91%.

Safe Pro Group Stock Up 37.7%

NASDAQ SPAI traded up $1.69 during trading hours on Friday, hitting $6.17. The company’s stock had a trading volume of 7,003,367 shares, compared to its average volume of 328,880. The company has a current ratio of 13.27, a quick ratio of 12.88 and a debt-to-equity ratio of 0.01. The company’s 50-day simple moving average is $4.30 and its two-hundred day simple moving average is $4.44. The company has a market capitalization of $128.89 million, a PE ratio of -8.69 and a beta of 3.56. Safe Pro Group has a 52 week low of $3.23 and a 52 week high of $9.16.

Analysts Set New Price Targets

A number of research firms recently issued reports on SPAI. Weiss Ratings downgraded shares of Safe Pro Group from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, August 3rd. Zacks Research upgraded shares of Safe Pro Group from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. Finally, Wall Street Zen upgraded shares of Safe Pro Group from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $11.00.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Cresset Asset Management LLC raised its position in Safe Pro Group by 4.6% in the 2nd quarter. Cresset Asset Management LLC now owns 144,929 shares of the company’s stock valued at $399,000 after buying an additional 6,346 shares during the last quarter. Barclays PLC purchased a new position in Safe Pro Group during the fourth quarter worth about $44,000. Renaissance Technologies LLC grew its position in Safe Pro Group by 20.0% in the 4th quarter. Renaissance Technologies LLC now owns 77,500 shares of the company’s stock worth $322,000 after purchasing an additional 12,900 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new stake in Safe Pro Group in the 4th quarter worth about $65,000. Finally, Tudor Investment Corp ET AL increased its stake in Safe Pro Group by 9.1% in the 4th quarter. Tudor Investment Corp ET AL now owns 277,285 shares of the company’s stock valued at $1,154,000 after buying an additional 23,018 shares during 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.