Safe and Green Development Corporation (NASDAQ:RENX) Short Interest Down 65.8% in June

Safe and Green Development Corporation (NASDAQ:RENX) saw a significant drop in short interest in June. As of June 30th, there was short interest totaling 36,798 shares, a drop of 65.8% from the June 15th total of 107,524 shares. Approximately 1.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 104,435 shares, the short-interest ratio is presently 0.4 days.

Safe and Green Development Trading Down 1.0%

Shares of RENX stock traded down $0.02 during mid-day trading on Wednesday, reaching $2.04. The company’s stock had a trading volume of 43,280 shares, compared to its average volume of 1,655,546. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 3.45. The firm has a market capitalization of $5.32 million, a PE ratio of -0.03 and a beta of 4.01. The company’s 50 day simple moving average is $1.83 and its 200-day simple moving average is $2.59. Safe and Green Development has a 12-month low of $1.40 and a 12-month high of $47.20.

Institutional Investors Weigh In On Safe and Green Development

An institutional investor recently raised its position in Safe and Green Development stock. Virtu Financial LLC grew its position in Safe and Green Development Corporation (NASDAQ:RENX) by 127.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 filing with the Securities and Exchange Commission. 2.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RENX. Weiss Ratings reiterated a “sell (e+)” rating on shares of Safe and Green Development in a report on Wednesday, June 24th. Wall Street Zen downgraded Safe and Green Development from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Safe and Green Development presently has a consensus rating of “Sell”.

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.