Safe and Green Development Corporation (NASDAQ:RENX) Short Interest Update

Safe and Green Development Corporation (NASDAQ:RENX) saw a significant decline in short interest in August. As of August 14th, there was short interest totaling 11,377 shares, a decline of 41.0% from the July 30th total of 19,293 shares. Approximately 0.5% of the shares of the stock are short sold. Based on an average trading volume of 45,039 shares, the short-interest ratio is currently 0.3 days.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Zacks Research raised shares of Safe and Green Development to a “hold” rating in a report on Tuesday, August 25th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Safe and Green Development in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce”.

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 shares of Safe and Green Development Corporation (NASDAQ:RENX) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 2.59% of the company’s stock.

Safe and Green Development Price Performance

Shares of NASDAQ RENX traded down $0.01 during midday trading on Monday, hitting $2.00. 84,218 shares of the company’s stock were exchanged, compared to its average volume of 1,340,498. Safe and Green Development has a 12-month low of $1.40 and a 12-month high of $36.00. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 1.06. The company has a market cap of $5.30 million, a price-to-earnings ratio of -0.07 and a beta of 3.93. The business’s fifty day moving average price is $1.94 and its two-hundred day moving average price is $2.22.

Safe and Green Development (NASDAQ:RENX) last announced its earnings results on Thursday, August 13th. The company reported ($3.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.56) by ($1.52). Safe and Green Development had a negative net margin of 169.20% and a negative return on equity of 550.70%. The company had revenue of $4.26 million during the quarter, compared to analysts’ expectations of $4.12 million. As a group, research analysts forecast that Safe and Green Development will post -5.86 EPS for the current fiscal year.

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.