Safe Pro Group Inc. (NASDAQ:SPAI) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Safe Pro Group Inc. (NASDAQ:SPAI) have been given an average rating of “Moderate Buy” by the five ratings firms that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, one has given a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $10.00.

Several brokerages have recently issued reports on SPAI. Lake Street Capital started coverage on Safe Pro Group in a research note on Tuesday, November 18th. They set a “buy” rating and a $9.00 price objective for the company. Zacks Research cut shares of Safe Pro Group from a “hold” rating to a “strong sell” rating in a report on Thursday, February 5th. Wall Street Zen lowered shares of Safe Pro Group from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Safe Pro Group in a research note on Thursday, January 22nd.

Institutional Investors Weigh In On Safe Pro Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in SPAI. Cresset Asset Management LLC raised its holdings 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 worth $399,000 after acquiring an additional 6,346 shares during the period. Forefront Wealth Partners LLC bought a new position in shares of Safe Pro Group in the third quarter worth about $214,000. Forefront Wealth Management Inc. acquired a new position in shares of Safe Pro Group during the 3rd quarter worth about $214,000. Prospera Financial Services Inc bought a new stake in Safe Pro Group during the 3rd quarter valued at approximately $82,000. Finally, Citadel Advisors LLC acquired a new stake in Safe Pro Group in the 3rd quarter valued at approximately $3,940,000.

Safe Pro Group Stock Down 9.1%

Safe Pro Group stock opened at $5.01 on Wednesday. The company has a 50-day simple moving average of $4.90 and a 200-day simple moving average of $5.58. The firm has a market capitalization of $105.06 million, a P/E ratio of -6.68 and a beta of 3.59. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.16 and a current ratio of 7.60. Safe Pro Group has a one year low of $1.47 and a one year high of $9.16.

Safe Pro Group declared that its Board of Directors has authorized a stock repurchase plan on Thursday, December 18th that allows the company to buyback $3.00 million in outstanding shares. This buyback authorization allows the company to buy up to 4.4% of its shares through open market purchases. Shares buyback plans 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.