Safe and Green Development (NASDAQ:SGD) Stock Price Up 42.3% – Time to Buy?

Safe and Green Development Corporation (NASDAQ:SGD)’s stock price rose 42.3% during mid-day trading on Thursday . The stock traded as high as $0.34 and last traded at $0.2518. Approximately 38,092,308 shares traded hands during trading, an increase of 1,704% from the average daily volume of 2,111,884 shares. The stock had previously closed at $0.1770.

Analysts Set New Price Targets

Several research firms recently commented on SGD. Weiss Ratings reiterated a “sell (e+)” rating on shares of Safe and Green Development in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Safe and Green Development to a “sell” rating in a research report on Friday, October 3rd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

Safe and Green Development Stock Up 42.3%

The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 1.79. The firm has a market capitalization of $2.24 million, a price-to-earnings ratio of -0.06 and a beta of 3.50. The firm has a 50 day moving average price of $0.92 and a two-hundred day moving average price of $1.06.

Safe and Green Development (NASDAQ:SGD) last posted its earnings results on Friday, November 14th. The company reported ($1.12) earnings per share for the quarter. The business had revenue of $5.01 million for the quarter. Safe and Green Development had a negative net margin of 277.22% and a negative return on equity of 733.82%.

Institutional Trading of Safe and Green Development

An institutional investor recently raised its position in Safe and Green Development stock. Virtu Financial LLC raised its holdings in shares of Safe and Green Development Corporation (NASDAQ:SGD) by 127.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,645 shares of the company’s stock after acquiring an additional 14,954 shares during the period. Virtu Financial LLC owned approximately 0.30% of Safe and Green Development worth $36,000 as of its most recent SEC filing. 2.59% of the stock is currently owned by institutional investors.

Safe and Green Development Company Profile

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.