Safe Pro Group Inc. (NASDAQ:SPAI) Short Interest Up 38.8% in February

Safe Pro Group Inc. (NASDAQ:SPAI) saw a large growth in short interest during the month of February. As of February 27th, there was short interest totaling 766,233 shares, a growth of 38.8% from the February 12th total of 552,106 shares. Based on an average daily trading volume, of 820,176 shares, the days-to-cover ratio is presently 0.9 days. Approximately 8.1% of the shares of the company are short sold. Approximately 8.1% of the shares of the company are short sold. Based on an average daily trading volume, of 820,176 shares, the days-to-cover ratio is presently 0.9 days.

Safe Pro Group Stock Performance

SPAI stock traded down $0.03 during trading on Friday, hitting $4.82. 263,307 shares of the company traded hands, compared to its average volume of 577,089. Safe Pro Group has a 1 year low of $1.47 and a 1 year high of $9.16. The company has a market cap of $101.09 million, a PE ratio of -6.43 and a beta of 3.59. The stock’s 50-day simple moving average is $4.99 and its 200 day simple moving average is $5.57. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.60 and a quick ratio of 7.16.

Safe Pro Group announced that its Board of Directors has approved a share repurchase program on Thursday, December 18th that permits the company to buyback $3.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 4.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Zacks Research downgraded shares of Safe Pro Group from a “hold” rating to a “strong sell” rating in a report on Thursday, February 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Safe Pro Group in a report on Thursday, January 22nd. Wall Street Zen downgraded shares of Safe Pro Group from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. Finally, Lake Street Capital began coverage on shares of Safe Pro Group in a report on Tuesday, November 18th. They issued a “buy” rating and a $9.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $10.00.

Hedge Funds Weigh In On Safe Pro Group

Large investors have recently made changes to their positions in the company. DGS Capital Management LLC purchased a new stake in Safe Pro Group during the fourth quarter worth $79,000. Tudor Investment Corp ET AL increased its holdings in Safe Pro Group by 9.1% in the fourth quarter. Tudor Investment Corp ET AL now owns 277,285 shares of the company’s stock valued at $1,154,000 after buying an additional 23,018 shares in the last quarter. Price T Rowe Associates Inc. MD acquired a new position in shares of Safe Pro Group in the fourth quarter worth about $65,000. Ghisallo Capital Management LLC acquired a new position in shares of Safe Pro Group in the fourth quarter worth about $1,190,000. Finally, Barclays PLC purchased a new stake in shares of Safe Pro Group during the 4th quarter worth about $44,000.

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.