Safe Pro Group (NASDAQ:SPAI) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Safe Pro Group (NASDAQ:SPAI) released its quarterly earnings data on Friday. The company reported ($0.15) earnings per share 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 Trading Up 37.7%

Shares of SPAI traded up $1.69 during trading hours on Friday, hitting $6.17. The stock had a trading volume of 7,003,367 shares, compared to its average volume of 328,880. The company has a debt-to-equity ratio of 0.01, a quick ratio of 12.88 and a current ratio of 13.27. Safe Pro Group has a 12-month low of $3.23 and a 12-month high of $9.16. The firm has a market cap of $128.89 million, a P/E ratio of -8.69 and a beta of 3.56. The company’s fifty day simple moving average is $4.31 and its 200 day simple moving average is $4.45.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC acquired a new position in Safe Pro Group during the 4th quarter valued at about $44,000. Price T Rowe Associates Inc. MD purchased a new position in Safe Pro Group during the 4th quarter valued at about $65,000. Renaissance Technologies LLC increased its stake in shares of Safe Pro Group by 20.0% in the fourth quarter. Renaissance Technologies LLC now owns 77,500 shares of the company’s stock worth $322,000 after acquiring an additional 12,900 shares during the last quarter. NewEdge Advisors LLC acquired a new stake in shares of Safe Pro Group in the 3rd quarter valued at $393,000. Finally, Cresset Asset Management LLC raised its position in shares of Safe Pro Group by 4.6% in the second quarter. Cresset Asset Management LLC now owns 144,929 shares of the company’s stock valued at $399,000 after purchasing an additional 6,346 shares during the period.

Analyst Upgrades and Downgrades

SPAI has been the subject of several recent research reports. Zacks Research raised Safe Pro Group from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. Weiss Ratings downgraded shares of Safe Pro Group from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, August 3rd. Finally, Wall Street Zen raised shares of Safe Pro Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. 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 issued a Sell rating to the stock. According to MarketBeat.com, Safe Pro Group currently has an average rating of “Moderate Buy” and an average price target of $11.00.

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.