Lake Street Capital Initiates Coverage on Safe Pro Group (NASDAQ:SPAI)

Research analysts at Lake Street Capital began coverage on shares of Safe Pro Group (NASDAQ:SPAI) in a report released on Tuesday. The firm set a “buy” rating and a $9.00 price target on the stock. Lake Street Capital’s target price suggests a potential upside of 85.38% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Wall Street Zen raised shares of Safe Pro Group to a “hold” rating in a research note on Saturday, August 30th. Northland Capmk upgraded Safe Pro Group to a “strong-buy” rating in a research report on Tuesday, September 9th. Northland Securities initiated coverage on Safe Pro Group in a report on Tuesday, September 9th. They issued an “outperform” rating and a $13.00 price objective on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Safe Pro Group in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $10.00.

Safe Pro Group Trading Up 2.6%

SPAI traded up $0.13 during trading on Tuesday, hitting $4.86. 55,240 shares of the stock were exchanged, compared to its average volume of 219,883. Safe Pro Group has a 1 year low of $1.47 and a 1 year high of $9.16. The firm has a market cap of $101.81 million, a price-to-earnings ratio of -6.47 and a beta of 3.33. The firm has a 50 day simple moving average of $6.72 and a 200 day simple moving average of $4.71. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.27 and a current ratio of 1.64.

Safe Pro Group (NASDAQ:SPAI) last issued its quarterly earnings data on Friday, November 14th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.18). The firm had revenue of $0.10 million during the quarter, compared to analysts’ expectations of $0.10 million. Safe Pro Group had a negative return on equity of 405.35% and a negative net margin of 968.74%.

Institutional Trading of Safe Pro Group

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

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.