Safe and Green Development (NASDAQ:RENX) Trading Up 1.9% – Time to Buy?

Safe and Green Development Corporation (NASDAQ:RENX) traded up 1.9% during mid-day trading on Tuesday . The company traded as high as $1.59 and last traded at $1.58. 100,622 shares were traded during mid-day trading, a decline of 81% from the average session volume of 523,654 shares. The stock had previously closed at $1.55.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RENX. Wall Street Zen downgraded shares of Safe and Green Development from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Safe and Green Development in a report on Friday, March 27th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Safe and Green Development Stock Performance

The stock’s fifty day moving average price is $2.29 and its two-hundred day moving average price is $5.76. The company has a debt-to-equity ratio of 3.45, a quick ratio of 0.07 and a current ratio of 0.07. The company has a market cap of $4.12 million, a P/E ratio of -0.02 and a beta of 4.61.

Safe and Green Development (NASDAQ:RENX) last released its quarterly earnings data on Wednesday, April 1st. The company reported $3.01 earnings per share (EPS) for the quarter. The business had revenue of $5.57 million during the quarter. Safe and Green Development had a negative net margin of 190.02% and a negative return on equity of 596.53%. As a group, equities analysts predict that Safe and Green Development Corporation will post -5.86 earnings per share for the current year.

Hedge Funds Weigh In On Safe and Green Development

An institutional investor recently bought a new position in Safe and Green Development stock. Citadel Advisors LLC purchased a new stake in Safe and Green Development Corporation (NASDAQ:RENX) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 37,346 shares of the company’s stock, valued at approximately $50,000. Citadel Advisors LLC owned 0.42% of Safe and Green Development 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.

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. Safe and Green Development Corporation is a subsidiary of Safe & Green Holdings Corp.