Safe Pro Group (NASDAQ:SPAI) Issues Earnings Results, Misses Expectations By $0.01 EPS

Safe Pro Group (NASDAQ:SPAI) issued its quarterly earnings results on Friday. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.01), Zacks reports. Safe Pro Group had a negative net margin of 800.91% and a negative return on equity of 119.17%. The firm had revenue of $1.33 million for the quarter, compared to the consensus estimate of $1.22 million.

Safe Pro Group Stock Up 37.7%

NASDAQ SPAI opened at $6.17 on Friday. The stock has a market capitalization of $128.86 million, a P/E ratio of -8.45 and a beta of 3.56. Safe Pro Group has a 52 week low of $3.23 and a 52 week 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 stock has a fifty day moving average of $4.31 and a 200-day moving average of $4.45.

Hedge Funds Weigh In On Safe Pro Group

Hedge funds have recently added to or reduced their stakes in the company. Citadel Advisors LLC acquired a new stake in Safe Pro Group in the third quarter worth about $3,940,000. Ghisallo Capital Management LLC acquired a new position in Safe Pro Group during the 4th quarter valued at about $1,190,000. Tudor Investment Corp ET AL lifted its position in Safe Pro Group by 9.1% during the 4th quarter. Tudor Investment Corp ET AL now owns 277,285 shares of the company’s stock valued at $1,154,000 after purchasing an additional 23,018 shares during the period. Cresset Asset Management LLC boosted its stake in shares of Safe Pro Group by 4.6% in the 2nd quarter. Cresset Asset Management LLC now owns 144,929 shares of the company’s stock valued at $399,000 after purchasing an additional 6,346 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Safe Pro Group by 66.3% in the 4th quarter. Geode Capital Management LLC now owns 128,627 shares of the company’s stock valued at $535,000 after purchasing an additional 51,283 shares during the last quarter.

Analyst Ratings Changes

A number of research firms have weighed in on SPAI. Zacks Research upgraded shares of Safe Pro Group from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. Weiss Ratings downgraded shares of Safe Pro Group from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, August 3rd. Finally, Wall Street Zen upgraded shares of Safe Pro Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.00.

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.