Brokerages Set Safe Pro Group Inc. (NASDAQ:SPAI) Price Target at $10.00

by · The Cerbat Gem

Shares of Safe Pro Group Inc. (NASDAQ:SPAI – Get Free Report) have received a consensus recommendation of “Buy” from the five ratings firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $10.00.

A number of brokerages have issued reports on SPAI. Lake Street Capital began coverage on Safe Pro Group in a report on Tuesday, November 18th. They issued a “buy” rating and a $9.00 target price for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Safe Pro Group in a report on Wednesday, October 8th. Northland Securities started coverage on Safe Pro Group in a report on Tuesday, September 9th. They issued an “outperform” rating and a $13.00 price objective for the company. Wall Street Zen cut Safe Pro Group from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Finally, Northland Capmk raised Safe Pro Group to a “strong-buy” rating in a research note on Tuesday, September 9th.

Check Out Our Latest Stock Report on SPAI

Safe Pro Group Trading Down 20.1%

Shares of NASDAQ:SPAI opened at $3.50 on Friday. The business has a 50 day moving average of $5.67 and a 200-day moving average of $4.95. The stock has a market cap of $73.40 million, a PE ratio of -4.67 and a beta of 3.55. Safe Pro Group has a 12-month low of $1.47 and a 12-month high of $9.16. The company has a quick ratio of 7.16, a current ratio of 7.60 and a debt-to-equity ratio of 0.02.

Safe Pro Group (NASDAQ:SPAI – Get Free Report) last issued its earnings results on Friday, November 14th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.18). The firm had revenue of $0.10 million during the quarter, compared to analyst estimates of $0.10 million. Safe Pro Group had a negative net margin of 968.74% and a negative return on equity of 280.18%.

Hedge Funds Weigh In On Safe Pro Group

Large investors have recently modified their holdings of the company. Tudor Investment Corp ET AL acquired a new position in Safe Pro Group during the third quarter worth $1,785,000. NewEdge Advisors LLC bought a new stake in shares of Safe Pro Group during the third quarter worth about $393,000. Citadel Advisors LLC acquired a new stake in shares of Safe Pro Group in the 3rd quarter worth about $3,940,000. Cresset Asset Management LLC raised its holdings in shares of Safe Pro Group by 95.6% in the 3rd quarter. Cresset Asset Management LLC now owns 283,485 shares of the company’s stock worth $1,990,000 after acquiring an additional 138,556 shares during the last quarter. Finally, Prospera Financial Services Inc bought a new position in Safe Pro Group in the 3rd quarter valued at about $82,000.

About Safe Pro Group

(Get Free Report)

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.

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