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

Safe Pro Group (NASDAQ:SPAI) posted its quarterly earnings results on Tuesday. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.05), Zacks reports. The company had revenue of $0.23 million during the quarter, compared to analyst estimates 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 Stock Performance

NASDAQ SPAI traded up $0.08 during trading hours on Thursday, hitting $4.08. The company had a trading volume of 78,606 shares, compared to its average volume of 351,195. The business has a 50 day moving average of $4.63 and a 200-day moving average of $5.32. The company has a market cap of $85.58 million, a PE ratio of -4.90 and a beta of 3.90. Safe Pro Group has a 1-year low of $1.47 and a 1-year high of $9.16. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.16 and a current ratio of 7.60.

Safe Pro Group announced that its Board of Directors has authorized a share repurchase plan on Thursday, December 18th that authorizes the company to repurchase $3.00 million in shares. This repurchase authorization authorizes the company to purchase up to 4.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

SPAI has been the subject of a number of analyst reports. Zacks Research downgraded Safe Pro Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Safe Pro Group in a report on Thursday, January 22nd. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $10.00.

Institutional Trading of Safe Pro Group

A number of large investors have recently made changes to their positions in the company. Cresset Asset Management LLC grew its stake in Safe Pro Group by 4.6% during 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 last quarter. Barclays PLC purchased a new stake in Safe Pro Group in the fourth quarter valued at approximately $44,000. Renaissance Technologies LLC lifted its stake in Safe Pro Group by 20.0% in the fourth quarter. Renaissance Technologies LLC now owns 77,500 shares of the company’s stock valued at $322,000 after buying an additional 12,900 shares during the last quarter. Price T Rowe Associates Inc. MD acquired a new stake in shares of Safe Pro Group in the fourth quarter valued at approximately $65,000. Finally, Tudor Investment Corp ET AL boosted its holdings in shares of Safe Pro Group by 9.1% in the fourth 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 period.

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.