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

Safe Pro Group (NASDAQ:SPAI) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Safe Pro Group in a report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $10.00.

Safe Pro Group Stock Down 4.2%

NASDAQ SPAI opened at $5.96 on Monday. The business has a fifty day moving average price of $4.30 and a 200 day moving average price of $4.60. Safe Pro Group has a one year low of $2.39 and a one year high of $9.16. The company has a debt-to-equity ratio of 0.01, a quick ratio of 12.88 and a current ratio of 13.27. The company has a market cap of $124.50 million, a P/E ratio of -8.39 and a beta of 3.28.

Safe Pro Group (NASDAQ:SPAI) last posted its quarterly earnings data on Friday, May 15th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.01. Safe Pro Group had a negative return on equity of 119.17% and a negative net margin of 800.91%.The firm had revenue of $1.22 million during the quarter, compared to the consensus estimate of $1.01 million. Research analysts anticipate that Safe Pro Group will post -0.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Safe Pro Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Cresset Asset Management LLC boosted its holdings 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 valued at $399,000 after acquiring an additional 6,346 shares during the period. Atlantic Union Bankshares Corp purchased a new position in shares of Safe Pro Group in the 4th quarter valued at about $42,000. Barclays PLC purchased a new position in shares of Safe Pro Group in the 4th quarter valued at about $44,000. Granite Investment Partners LLC purchased a new position in shares of Safe Pro Group in the 1st quarter valued at about $41,000. Finally, Prospera Financial Services Inc purchased a new position in shares of Safe Pro Group in the 3rd quarter valued at about $82,000.

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.