Safe Pro Group (NASDAQ:SPAI) Stock Dropped to “Sell” by Wall Street Zen

Wall Street Zen cut shares of Safe Pro Group (NASDAQ:SPAI) from a hold rating to a sell rating in a report published on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings raised 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 assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Safe Pro Group currently has a consensus rating of “Hold” and a consensus price target of $9.00.

Safe Pro Group Stock Down 1.4%

Safe Pro Group stock traded down $0.04 during mid-day trading on Friday, hitting $2.77. The company’s stock had a trading volume of 199,625 shares, compared to its average volume of 132,279. Safe Pro Group has a 52-week low of $2.52 and a 52-week high of $6.70. The company has a market cap of $58.11 million, a PE ratio of -3.79 and a beta of 3.92. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.76 and a quick ratio of 8.22. The firm’s 50 day moving average is $3.84 and its 200 day moving average is $4.34.

Safe Pro Group (NASDAQ:SPAI) last released its earnings results on Friday, August 14th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.01). The business had revenue of $1.33 million for the quarter, compared to analysts’ expectations of $1.22 million. Safe Pro Group had a negative net margin of 500.00% and a negative return on equity of 107.61%. On average, analysts anticipate that Safe Pro Group will post -0.55 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Daniyel Erdberg sold 1,000,000 shares of the stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $4.00, for a total transaction of $4,000,000.00. Following the transaction, the chief executive officer owned 3,749,058 shares in the company, valued at $14,996,232. This represents a 21.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 43.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Safe Pro Group

Several institutional investors and hedge funds have recently modified their holdings of SPAI. Squarepoint Ops LLC bought a new stake in Safe Pro Group in the second quarter worth $88,000. BlackRock Inc. acquired a new position in Safe Pro Group during the second quarter worth $317,000. Finally, GSA Capital Partners LLP bought a new position in Safe Pro Group during the second quarter valued at about $97,000.

Safe Pro Group Company Profile

Safe Pro Group is a technology and services company focused on security and defense applications. Its businesses combine artificial intelligence, drone-based imagery and protective equipment. The company’s Safe Pro AI platform uses computer vision to analyze aerial images and identify potential explosive hazards, including landmines and unexploded ordnance. The technology is intended to help users map and assess threats and support clearance efforts. Safe Pro Group also provides drone-based imaging services through Airborne Response and ballistic protective equipment through Safe-Pro USA.