Brokerages Set Safe Pro Group Inc. (NASDAQ:SPAI) Price Target at $10.00

Shares of Safe Pro Group Inc. (NASDAQ:SPAI) have been given an average recommendation of “Moderate Buy” by the five analysts that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, one has issued a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $10.00.

Several equities research analysts recently commented on SPAI shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Safe Pro Group in a report on Thursday, January 22nd. Zacks Research cut shares of Safe Pro Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 5th. Wall Street Zen downgraded shares of Safe Pro Group from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Finally, Lake Street Capital began coverage on Safe Pro Group in a research note on Tuesday, November 18th. They set a “buy” rating and a $9.00 target price for the company.

Safe Pro Group Trading Up 8.5%

Shares of SPAI opened at $4.99 on Wednesday. Safe Pro Group has a 12 month low of $1.47 and a 12 month high of $9.16. The stock’s 50-day moving average is $4.92 and its two-hundred day moving average is $5.58. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.60 and a quick ratio of 7.16. The stock has a market cap of $104.64 million, a PE ratio of -6.65 and a beta of 3.59.

Safe Pro Group declared that its Board of Directors has initiated a share buyback plan on Thursday, December 18th that allows the company to repurchase $3.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 4.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Institutional Trading of Safe Pro Group

A number of hedge funds and other institutional investors have recently made changes to their positions in SPAI. DGS Capital Management LLC acquired a new stake in Safe Pro Group in the fourth quarter valued at $79,000. Tudor Investment Corp ET AL boosted its stake in Safe Pro Group by 9.1% during the 4th quarter. Tudor Investment Corp ET AL now owns 277,285 shares of the company’s stock valued at $1,154,000 after acquiring an additional 23,018 shares during the last quarter. Price T Rowe Associates Inc. MD acquired a new position in Safe Pro Group during the 4th quarter worth $65,000. Ghisallo Capital Management LLC acquired a new position in Safe Pro Group during the 4th quarter worth $1,190,000. Finally, Barclays PLC bought a new stake in shares of Safe Pro Group in the 4th quarter worth about $44,000.

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.