Safe and Green Development (NASDAQ:RENX) Releases Earnings Results

Safe and Green Development (NASDAQ:RENX) posted its quarterly earnings results on Wednesday. The company reported $3.01 EPS for the quarter, FiscalAI reports. Safe and Green Development had a negative return on equity of 733.82% and a negative net margin of 277.22%.The business had revenue of $5.57 million during the quarter.

Safe and Green Development Trading Up 46.6%

Shares of RENX opened at $2.61 on Thursday. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.07 and a current ratio of 0.07. Safe and Green Development has a 52-week low of $1.42 and a 52-week high of $47.20. The firm has a market cap of $6.06 million, a price-to-earnings ratio of -0.58 and a beta of 3.86. The business’s fifty day moving average is $2.86 and its 200-day moving average is $11.72.

Analyst Upgrades and Downgrades

RENX has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Safe and Green Development in a report on Friday, March 27th. Wall Street Zen raised shares of Safe and Green Development to a “sell” rating in a report on Monday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

Institutional Trading of Safe and Green Development

A hedge fund recently raised its stake in Safe and Green Development stock. Virtu Financial LLC grew its stake in shares of Safe and Green Development Corporation (NASDAQ:RENX) by 127.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 26,645 shares of the company’s stock after buying an additional 14,954 shares during the quarter. Virtu Financial LLC owned approximately 0.30% of Safe and Green Development worth $36,000 as of its most recent SEC filing. Institutional investors own 2.59% of the company’s stock.

About Safe and Green Development

Safe and Green Development Corporation operates as a real estate development company. It focuses on building single and multifamily projects. The company was formerly known as SGB Development Corp. and changed its name to Safe and Green Development Corporation in December 2022. The company was incorporated in 2021 and is based in Miami, Florida. Safe and Green Development Corporation is a subsidiary of Safe & Green Holdings Corp.