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

Safe Pro Group (NASDAQ:SPAI) announced its earnings results on Friday. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.01, Zacks reports. 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 Performance

Shares of SPAI stock traded down $0.06 during trading hours on Friday, hitting $4.35. The stock had a trading volume of 4,944,642 shares, compared to its average volume of 347,812. The company has a debt-to-equity ratio of 0.01, a current ratio of 14.33 and a quick ratio of 13.84. The stock’s 50 day moving average is $4.36 and its 200 day moving average is $4.70. Safe Pro Group has a twelve month low of $2.39 and a twelve month high of $9.16. The firm has a market capitalization of $90.87 million, a PE ratio of -5.18 and a beta of 3.00.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SPAI. Barclays PLC purchased a new position in Safe Pro Group in the fourth quarter worth $44,000. Price T Rowe Associates Inc. MD purchased a new stake in Safe Pro Group during the 4th quarter worth about $65,000. NewEdge Advisors LLC purchased a new stake in Safe Pro Group in the 3rd quarter valued at about $393,000. Renaissance Technologies LLC grew its holdings in Safe Pro Group by 20.0% in the 4th quarter. Renaissance Technologies LLC now owns 77,500 shares of the company’s stock valued at $322,000 after buying an additional 12,900 shares during the period. Finally, Geode Capital Management LLC lifted 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 in the last quarter.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Safe Pro Group in a research report on Tuesday, April 21st. Zacks Research cut shares of Safe Pro Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 5th. 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.