Safe and Green Development (NASDAQ:RENX) Releases Earnings Results, Misses Expectations By $1.52 EPS

Safe and Green Development (NASDAQ:RENX) announced its quarterly earnings data on Thursday. The company reported ($3.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.56) by ($1.52), Zacks reports. The business had revenue of $4.26 million for the quarter, compared to the consensus estimate of $4.12 million. Safe and Green Development had a negative net margin of 169.20% and a negative return on equity of 795.26%.

Safe and Green Development Stock Performance

Shares of NASDAQ:RENX traded down $0.12 on Friday, hitting $1.88. The company’s stock had a trading volume of 25,765 shares, compared to its average volume of 53,427. Safe and Green Development has a 12 month low of $1.40 and a 12 month high of $36.00. The company has a market capitalization of $4.91 million, a price-to-earnings ratio of -0.03 and a beta of 3.94. The stock’s 50-day moving average is $1.90 and its two-hundred day moving average is $2.30. The company has a debt-to-equity ratio of 3.45, a quick ratio of 0.07 and a current ratio of 0.07.

Institutional Investors Weigh In On Safe and Green Development

An institutional investor recently bought a new stake in Safe and Green Development stock. Citadel Advisors LLC bought a new stake in Safe and Green Development Corporation (NASDAQ:RENX) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 37,346 shares of the company’s stock, valued at approximately $50,000. Citadel Advisors LLC owned approximately 0.42% of Safe and Green Development as of its most recent SEC filing. Institutional investors and hedge funds own 2.59% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on RENX shares. Wall Street Zen lowered Safe and Green Development from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Weiss Ratings reissued a “sell (e+)” rating on shares of Safe and Green Development in a report on Wednesday, June 24th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently 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.