Safe Pro Group (NASDAQ:SPAI) Announces Earnings Results

Safe Pro Group (NASDAQ:SPAI) posted its quarterly earnings results on Friday. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01), Zacks reports. The company had revenue of $1.22 million during the quarter, compared to analyst estimates of $1.01 million. Safe Pro Group had a negative net margin of 2,359.64% and a negative return on equity of 182.66%.

Safe Pro Group Stock Down 1.4%

Shares of NASDAQ SPAI traded down $0.06 during midday trading on Friday, hitting $4.35. 4,944,642 shares of the company’s stock were exchanged, compared to its average volume of 166,644. The company has a debt-to-equity ratio of 0.01, a current ratio of 14.33 and a quick ratio of 13.84. Safe Pro Group has a twelve month low of $2.39 and a twelve month high of $9.16. The company has a market cap of $90.85 million, a PE ratio of -5.18 and a beta of 3.00. The firm’s fifty day simple moving average is $4.36 and its 200-day simple moving average is $4.70.

Institutional Investors Weigh In On Safe Pro Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC acquired a new stake in shares of Safe Pro Group during the 4th quarter worth about $44,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of Safe Pro Group during the 4th quarter worth about $65,000. NewEdge Advisors LLC acquired a new stake in shares of Safe Pro Group during the 3rd quarter worth about $393,000. Renaissance Technologies LLC raised its position in shares of Safe Pro Group by 20.0% during the 4th quarter. Renaissance Technologies LLC now owns 77,500 shares of the company’s stock worth $322,000 after acquiring an additional 12,900 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Safe Pro Group by 66.3% during the 4th quarter. Geode Capital Management LLC now owns 128,627 shares of the company’s stock worth $535,000 after acquiring an additional 51,283 shares in the last quarter.

Analyst Upgrades and Downgrades

SPAI has been the topic of a number of analyst reports. Zacks Research lowered 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 research report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Safe Pro Group currently has an average rating of “Moderate Buy” and a consensus price target of $10.00.

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.