Safe and Green Development (NASDAQ:SGD) Releases Quarterly Earnings Results

Safe and Green Development (NASDAQ:SGD) released its quarterly earnings results on Friday. The company reported ($1.12) EPS for the quarter, Zacks reports. Safe and Green Development had a negative return on equity of 741.44% and a negative net margin of 766.20%.

Safe and Green Development Stock Down 9.8%

Shares of SGD traded down $0.11 during trading on Friday, reaching $0.98. The company’s stock had a trading volume of 1,180,842 shares, compared to its average volume of 291,634. The company has a market cap of $8.69 million, a price-to-earnings ratio of -0.16 and a beta of 3.58. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.92. The company has a fifty day moving average of $1.22 and a two-hundred day moving average of $1.09. Safe and Green Development has a twelve month low of $0.65 and a twelve month high of $3.16.

Institutional Trading of Safe and Green Development

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SGD shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Safe and Green Development in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Safe and Green Development to a “sell” rating in a research note on Friday, October 3rd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of “Sell”.

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.