Safe Pro Group (NASDAQ:SPAI) Stock Rating Upgraded by Wall Street Zen

Safe Pro Group (NASDAQ:SPAI) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Other equities research analysts have also issued research reports about the stock. Zacks Research upgraded shares of Safe Pro Group from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. Weiss Ratings upgraded shares of Safe Pro Group from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, August 17th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $9.00.

Safe Pro Group Stock Performance

NASDAQ:SPAI opened at $4.49 on Friday. The company has a quick ratio of 8.22, a current ratio of 8.76 and a debt-to-equity ratio of 0.01. Safe Pro Group has a 1-year low of $3.23 and a 1-year high of $9.05. The firm has a market capitalization of $91.42 million, a price-to-earnings ratio of -6.15 and a beta of 3.66. The stock has a fifty day simple moving average of $4.47 and a 200 day simple moving average of $4.53.

Safe Pro Group (NASDAQ:SPAI) last posted its quarterly earnings data on Friday, August 14th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.01). Safe Pro Group had a negative return on equity of 107.61% and a negative net margin of 500.00%.The company had revenue of $1.33 million for the quarter, compared to analyst estimates of $1.22 million. Sell-side analysts forecast that Safe Pro Group will post -0.55 earnings per share for the current year.

Insider Buying and Selling at Safe Pro Group

In related news, CEO Daniyel Erdberg sold 1,000,000 shares of the stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $4.00, for a total transaction of $4,000,000.00. Following the completion of the sale, the chief executive officer directly owned 3,749,058 shares in the company, valued at approximately $14,996,232. This trade represents a 21.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 54.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Granite Investment Partners LLC acquired a new position in Safe Pro Group in the 1st quarter worth about $41,000. Atlantic Union Bankshares Corp acquired a new position in Safe Pro Group in the fourth quarter worth approximately $42,000. Barclays PLC acquired a new position in Safe Pro Group in the fourth quarter worth approximately $44,000. Price T Rowe Associates Inc. MD bought a new position in Safe Pro Group during the fourth quarter valued at approximately $65,000. Finally, DGS Capital Management LLC bought a new position in Safe Pro Group during the fourth quarter valued at approximately $79,000.

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.