Safe Pro Group (NASDAQ:SPAI) Stock Rating Lowered by Zacks Research

Safe Pro Group (NASDAQ:SPAI) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Several other equities research analysts have also issued reports on SPAI. Wall Street Zen lowered Safe Pro Group from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Safe Pro Group in a research report on Thursday, January 22nd. Finally, Lake Street Capital initiated coverage on shares of Safe Pro Group in a research report on Tuesday, November 18th. They issued a “buy” rating and a $9.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $10.00.

Safe Pro Group Trading Up 10.8%

NASDAQ:SPAI opened at $4.40 on Thursday. Safe Pro Group has a 52 week low of $1.47 and a 52 week high of $9.16. The firm has a 50-day moving average price of $4.90 and a two-hundred day moving average price of $5.49. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.16 and a current ratio of 7.60. The firm has a market cap of $92.27 million, a price-to-earnings ratio of -5.87 and a beta of 3.72.

Safe Pro Group (NASDAQ:SPAI) last released its earnings results on Friday, November 14th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.18). The business had revenue of $0.10 million during the quarter, compared to the consensus estimate of $0.10 million. Safe Pro Group had a negative net margin of 968.74% and a negative return on equity of 280.18%.

Safe Pro Group declared that its Board of Directors has authorized a share repurchase program on Thursday, December 18th that allows the company to buyback $3.00 million in shares. This buyback authorization allows the company to buy up to 4.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Institutional Trading of Safe Pro Group

A number of institutional investors have recently modified their holdings of the business. Cresset Asset Management LLC boosted its holdings 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 worth $399,000 after buying an additional 6,346 shares during the period. Atlantic Union Bankshares Corp bought a new position in shares of Safe Pro Group in the fourth quarter worth $42,000. Prospera Financial Services Inc purchased a new position in shares of Safe Pro Group in the third quarter valued at $82,000. Forefront Wealth Management Inc. purchased a new position in shares of Safe Pro Group in the third quarter valued at $214,000. Finally, Forefront Wealth Partners LLC bought a new stake in shares of Safe Pro Group during the 3rd quarter valued at $214,000.

About Safe Pro Group

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.