Safe Pro Group (NASDAQ:SPAI) CEO Daniyel Erdberg Sells 1,000,000 Shares

Safe Pro Group Inc. (NASDAQ:SPAIGet Free Report) CEO Daniyel Erdberg sold 1,000,000 shares of the stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $4.00, for a total value of $4,000,000.00. Following the sale, the chief executive officer owned 3,749,058 shares in the company, valued at approximately $14,996,232. This represents a 21.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Safe Pro Group Stock Down 2.0%

Safe Pro Group stock opened at $4.49 on Friday. Safe Pro Group Inc. has a 12 month low of $3.23 and a 12 month high of $9.05. The stock has a fifty day simple moving average of $4.47 and a two-hundred day simple moving average of $4.52. The company has a current ratio of 8.76, a quick ratio of 8.22 and a debt-to-equity ratio of 0.01. The firm has a market cap of $91.42 million, a price-to-earnings ratio of -6.15 and a beta of 3.66.

Safe Pro Group (NASDAQ:SPAIGet Free Report) last announced its quarterly earnings results on Friday, August 14th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). Safe Pro Group had a negative net margin of 500.00% and a negative return on equity of 107.61%. The business had revenue of $1.33 million for the quarter, compared to the consensus estimate of $1.22 million. Equities analysts predict that Safe Pro Group Inc. will post -0.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SPAI shares. Weiss Ratings raised shares of Safe Pro Group from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, August 17th. Zacks Research raised shares of Safe Pro Group from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. Finally, Wall Street Zen upgraded shares of Safe Pro Group from a “sell” rating to a “hold” rating in a research report on Saturday. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $9.00.

Read Our Latest Analysis on Safe Pro Group

Institutional Trading of Safe Pro Group

Large investors have recently added to or reduced their stakes in the business. Perkins Capital Management Inc. bought a new position in Safe Pro Group in the first quarter worth approximately $881,000. Geode Capital Management LLC grew its position in shares of Safe Pro Group by 66.3% during the 4th quarter. Geode Capital Management LLC now owns 128,627 shares of the company’s stock valued at $535,000 after acquiring an additional 51,283 shares during the period. Citadel Advisors LLC bought a new stake in shares of Safe Pro Group during the 3rd quarter valued at $3,940,000. Ghisallo Capital Management LLC purchased a new stake in shares of Safe Pro Group in the 4th quarter worth $1,190,000. Finally, Tudor Investment Corp ET AL increased its stake in shares of Safe Pro Group by 9.1% in the 4th quarter. Tudor Investment Corp ET AL now owns 277,285 shares of the company’s stock worth $1,154,000 after purchasing an additional 23,018 shares in the last quarter.

About Safe Pro Group

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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.

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