Safe Pro Group (NASDAQ:SPAI) Announces Earnings Results, Misses Expectations By $0.01 EPS

Safe Pro Group (NASDAQ:SPAI) posted its quarterly earnings results on Friday. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.01), Zacks reports. Safe Pro Group had a negative net margin of 800.91% and a negative return on equity of 119.17%. The business had revenue of $1.33 million during the quarter, compared to analysts’ expectations of $1.22 million.

Safe Pro Group Stock Up 37.7%

SPAI stock traded up $1.69 during trading on Friday, reaching $6.17. The stock had a trading volume of 7,003,367 shares, compared to its average volume of 93,748. The company has a current ratio of 13.27, a quick ratio of 12.88 and a debt-to-equity ratio of 0.01. The firm has a fifty day moving average price of $4.31 and a 200 day moving average price of $4.45. The company has a market capitalization of $128.89 million, a P/E ratio of -8.69 and a beta of 3.56. Safe Pro Group has a 1-year low of $3.23 and a 1-year high of $9.16.

Institutional Investors Weigh In On Safe Pro Group

A number of hedge funds have recently bought and sold shares of SPAI. Barclays PLC purchased a new stake in Safe Pro Group during the 4th quarter worth approximately $44,000. Price T Rowe Associates Inc. MD acquired a new stake in Safe Pro Group in the fourth quarter valued at $65,000. Renaissance Technologies LLC boosted its stake in Safe Pro Group by 20.0% during the 4th quarter. Renaissance Technologies LLC now owns 77,500 shares of the company’s stock valued at $322,000 after acquiring an additional 12,900 shares during the last quarter. NewEdge Advisors LLC acquired a new position in Safe Pro Group during the 3rd quarter worth $393,000. Finally, Cresset Asset Management LLC increased its position in shares of Safe Pro Group by 4.6% in the 2nd quarter. Cresset Asset Management LLC now owns 144,929 shares of the company’s stock worth $399,000 after purchasing an additional 6,346 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts have recently commented on SPAI shares. Zacks Research raised shares of Safe Pro Group from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. Wall Street Zen raised Safe Pro Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Finally, Weiss Ratings downgraded Safe Pro Group from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Safe Pro Group has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

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.