Safe Pro Group Inc. (NASDAQ:SPAI) Receives $10.00 Average Price Target from Analysts
by Mitch Edgeman · The Markets DailySafe Pro Group Inc. (NASDAQ:SPAI – Get Free Report) has received an average recommendation of “Moderate Buy” from the five brokerages that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, one has issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $10.00.
SPAI has been the subject of a number of analyst reports. Zacks Research cut shares of Safe Pro Group from a “hold” rating to a “strong sell” rating in a report on Thursday, February 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Safe Pro Group in a report on Thursday, January 22nd.
Check Out Our Latest Report on SPAI
Hedge Funds Weigh In On Safe Pro Group
Several institutional investors have recently modified their holdings of SPAI. Atlantic Union Bankshares Corp bought a new stake in Safe Pro Group during the 4th quarter worth approximately $42,000. Barclays PLC bought a new position in Safe Pro Group in the fourth quarter valued at approximately $44,000. Prospera Financial Services Inc acquired a new position in shares of Safe Pro Group in the third quarter valued at approximately $82,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Safe Pro Group in the fourth quarter valued at approximately $65,000. Finally, DGS Capital Management LLC bought a new stake in shares of Safe Pro Group during the fourth quarter worth $79,000.
Safe Pro Group Stock Performance
Shares of SPAI stock opened at $3.81 on Friday. The stock has a market cap of $79.91 million, a PE ratio of -5.08 and a beta of 3.58. The stock has a 50-day moving average of $4.68 and a 200-day moving average of $5.33. 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 has a one year low of $1.47 and a one year high of $9.16.
Safe Pro Group declared that its board has initiated a share repurchase plan on Thursday, December 18th that allows the company to repurchase $3.00 million in shares. This repurchase authorization allows the company to purchase up to 4.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
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.