Safe Pro Group (NASDAQ:SPAI) Lowered to Sell Rating by Wall Street Zen

Safe Pro Group (NASDAQ:SPAI) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

Several other equities research analysts also recently issued reports on the stock. Northland Securities started coverage on shares of Safe Pro Group in a research note on Tuesday, September 9th. They set an “outperform” rating and a $13.00 price objective for the company. Lake Street Capital assumed coverage on shares of Safe Pro Group in a research report on Tuesday. They set a “buy” rating and a $9.00 price target for the company. Northland Capmk upgraded Safe Pro Group to a “strong-buy” rating in a report on Tuesday, September 9th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Safe Pro Group in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Safe Pro Group has an average rating of “Buy” and an average price target of $10.00.

Safe Pro Group Stock Performance

Shares of NASDAQ:SPAI opened at $4.24 on Friday. The business has a 50-day moving average of $6.43 and a two-hundred day moving average of $4.72. The firm has a market capitalization of $88.91 million, a PE ratio of -5.65 and a beta of 3.32. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.60 and a quick ratio of 1.27. Safe Pro Group has a 12 month low of $1.47 and a 12 month high of $9.16.

Safe Pro Group (NASDAQ:SPAI) last released its quarterly earnings data on Friday, November 14th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.18). The firm had revenue of $0.10 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%.

Hedge Funds Weigh In On Safe Pro Group

Several institutional investors and hedge funds have recently made changes to their positions in the business. Prospera Financial Services Inc bought a new stake in shares of Safe Pro Group in the third quarter worth $82,000. Forefront Wealth Management Inc. bought a new stake in shares of Safe Pro Group in the 3rd quarter worth about $214,000. Forefront Wealth Partners LLC bought a new stake in shares of Safe Pro Group in the 3rd quarter worth about $214,000. Cresset Asset Management LLC raised its stake in shares of Safe Pro Group by 15.2% in the 1st quarter. Cresset Asset Management LLC now owns 138,583 shares of the company’s stock valued at $301,000 after purchasing an additional 18,333 shares in the last quarter. Finally, NewEdge Advisors LLC bought a new position in shares of Safe Pro Group during the third quarter worth about $393,000.

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.