Safe and Green Development (NASDAQ:RENX) Issues Earnings Results

Safe and Green Development (NASDAQ:RENX) issued its quarterly earnings results on Wednesday. The company reported $3.01 earnings per share (EPS) for the quarter, FiscalAI reports. Safe and Green Development had a negative net margin of 277.22% and a negative return on equity of 733.82%. The company had revenue of $5.57 million during the quarter.

Safe and Green Development Stock Performance

Shares of NASDAQ:RENX traded up $1.18 during midday trading on Wednesday, hitting $2.96. The company had a trading volume of 66,989,359 shares, compared to its average volume of 2,375,595. 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 company has a fifty day moving average of $2.87 and a two-hundred day moving average of $11.78. The company has a market cap of $6.86 million, a price-to-earnings ratio of -0.66 and a beta of 3.86. Safe and Green Development has a 12-month low of $1.42 and a 12-month high of $47.20.

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:RENX) by 127.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 as of its most recent SEC filing. 2.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

RENX has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Safe and Green Development in a research report on Friday. Wall Street Zen raised shares of Safe and Green Development to a “sell” rating in a report on Monday. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

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.