Safe Pro Group (NASDAQ:SPAI) Coverage Initiated by Analysts at Lake Street Capital

Lake Street Capital began coverage on shares of Safe Pro Group (NASDAQ:SPAI) in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $9.00 price objective on the stock.

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

Safe Pro Group Stock Performance

Shares of NASDAQ SPAI opened at $4.89 on Tuesday. The firm’s 50-day moving average price is $6.67 and its 200-day moving average price is $4.72. Safe Pro Group has a 52-week low of $1.47 and a 52-week high of $9.16. The company has a market cap of $102.54 million, a PE ratio of -6.52 and a beta of 3.32. The company has a quick ratio of 1.27, a current ratio of 7.60 and a debt-to-equity ratio of 0.02.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SPAI. Cresset Asset Management LLC grew its stake in shares of Safe Pro Group by 4.6% during the 2nd quarter. Cresset Asset Management LLC now owns 144,929 shares of the company’s stock valued at $399,000 after acquiring an additional 6,346 shares during the period. Prospera Financial Services Inc bought a new stake in Safe Pro Group during the 3rd quarter worth approximately $82,000. Forefront Wealth Partners LLC purchased a new position in Safe Pro Group during the third quarter valued at approximately $214,000. Forefront Wealth Management Inc. bought a new position in shares of Safe Pro Group in the third quarter worth approximately $214,000. Finally, NewEdge Advisors LLC bought a new position in shares of Safe Pro Group in the third quarter worth approximately $393,000.

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.