Safe Pro Group Inc. (NASDAQ:SPAI) Receives $10.00 Average Price Target from Analysts

Safe Pro Group Inc. (NASDAQ:SPAI) has been assigned a consensus recommendation of “Buy” from the five research firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have assigned a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $10.00.

SPAI has been the topic of a number of research analyst reports. Wall Street Zen lowered shares of Safe Pro Group from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Safe Pro Group in a report on Wednesday, October 8th. Finally, Lake Street Capital assumed coverage on Safe Pro Group in a research note on Tuesday, November 18th. They issued a “buy” rating and a $9.00 price target on the stock.

Hedge Funds Weigh In On Safe Pro Group

Large investors have recently bought and sold shares of the company. Prospera Financial Services Inc bought a new position in shares of Safe Pro Group during the 3rd quarter worth approximately $82,000. Forefront Wealth Management Inc. acquired a new position in Safe Pro Group during the third quarter worth $214,000. Forefront Wealth Partners LLC bought a new position in Safe Pro Group in the third quarter valued at $214,000. NewEdge Advisors LLC acquired a new stake in Safe Pro Group in the 3rd quarter valued at $393,000. Finally, Cresset Asset Management LLC increased its stake in 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 buying an additional 6,346 shares during the last quarter.

Safe Pro Group Trading Up 2.2%

NASDAQ:SPAI opened at $5.70 on Wednesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.60 and a quick ratio of 7.16. The business’s 50-day simple moving average is $4.64 and its 200-day simple moving average is $5.12. Safe Pro Group has a fifty-two week low of $1.47 and a fifty-two week high of $9.16. The stock has a market capitalization of $119.53 million, a PE ratio of -7.60 and a beta of 3.71.

Safe Pro Group (NASDAQ:SPAI) last announced its earnings results on Friday, November 14th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.18). The company had revenue of $0.10 million for the quarter, compared to analyst estimates of $0.10 million. Safe Pro Group had a negative return on equity of 280.18% and a negative net margin of 968.74%.

Safe Pro Group declared that its board has initiated a share buyback program on Thursday, December 18th that permits the company to buyback $3.00 million in shares. This buyback authorization permits the company to repurchase up to 4.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.

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.