Safe and Green Development (NASDAQ:SGD) Trading Down 3.6% – Here’s What Happened

Safe and Green Development Corporation (NASDAQ:SGD) fell 3.6% during trading on Friday . The stock traded as low as $1.69 and last traded at $1.82. 605,256 shares were traded during mid-day trading, a decline of 85% from the average session volume of 3,962,076 shares. The stock had previously closed at $1.8880.

Safe and Green Development Stock Down 3.6%

The company has a debt-to-equity ratio of 1.79, a current ratio of 0.07 and a quick ratio of 0.07. The firm has a market cap of $16.17 million, a price-to-earnings ratio of -0.41 and a beta of 3.50. The firm has a 50 day moving average price of $0.18 and a 200-day moving average price of $0.63.

Institutional Inflows and Outflows

A hedge fund recently raised its stake 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 third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,645 shares of the company’s stock after purchasing an additional 14,954 shares during the period. Virtu Financial LLC owned 0.30% of Safe and Green Development worth $36,000 as of its most recent filing with the Securities and Exchange Commission. 2.59% of the stock is owned by hedge funds and other 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.