Safe and Green Development (NASDAQ:RENX) Rating Increased to Sell at Wall Street Zen

Safe and Green Development (NASDAQ:RENX) was upgraded by analysts at Wall Street Zen to a “sell” rating in a research note issued to investors on Monday.

Safe and Green Development Stock Performance

RENX traded down $0.01 during midday trading on Monday, reaching $1.58. The company had a trading volume of 63,287 shares, compared to its average volume of 1,574,965. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 1.79. The business has a 50-day moving average of $0.18 and a two-hundred day moving average of $0.62. The company has a market cap of $13.99 million, a P/E ratio of -0.35 and a beta of 3.50. Safe and Green Development has a 1 year low of $1.42 and a 1 year high of $47.20.

Hedge Funds Weigh In On Safe and Green Development

A hedge fund recently bought a new stake in Safe and Green Development stock. Citadel Advisors LLC acquired a new position in Safe and Green Development Corporation (NASDAQ:RENX) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 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 SEC filing. Institutional investors and hedge funds own 2.59% of the company’s stock.

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.