Safe and Green Development (NASDAQ:RENX) Downgraded by Wall Street Zen to Sell

Wall Street Zen downgraded shares of Safe and Green Development (NASDAQ:RENX) from a hold rating to a sell rating in a report released on Saturday.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Safe and Green Development in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Safe and Green Development Stock Performance

Shares of RENX opened at $2.71 on Friday. The company’s 50 day moving average price is $2.59 and its 200 day moving average price is $8.10. Safe and Green Development has a 52 week low of $1.42 and a 52 week high of $47.20. The company has a market capitalization of $6.79 million, a PE ratio of -0.03 and a beta of 4.61. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.05 and a current ratio of 0.05.

Safe and Green Development (NASDAQ:RENX) last announced its quarterly earnings data on Wednesday, April 1st. The company reported $3.01 EPS for the quarter. Safe and Green Development had a negative net margin of 194.13% and a negative return on equity of 577.52%. The firm had revenue of $5.57 million for the quarter. Research analysts expect that Safe and Green Development will post -5.86 EPS for the current fiscal year.

Institutional Trading of Safe and Green Development

A hedge fund recently bought a new stake in Safe and Green Development stock. Citadel Advisors LLC acquired a new position in Safe and Green Development Corporation (NASDAQ:RENX) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 37,346 shares of the company’s stock, valued at approximately $50,000. Citadel Advisors LLC owned about 0.42% of Safe and Green Development at the end of the most recent quarter. 2.59% of the stock is currently owned by institutional investors.

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.