Safe and Green Development Corporation (NASDAQ:RENX) Short Interest Update

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

Institutional Investors Weigh In On Safe and Green Development

An institutional investor recently raised its stake in Safe and Green Development stock. Virtu Financial LLC boosted its stake in shares of Safe and Green Development Corporation (NASDAQ:RENX) by 127.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,645 shares of the company’s stock after acquiring an additional 14,954 shares during the period. Virtu Financial LLC owned 0.30% of Safe and Green Development worth $36,000 at the end of the most recent quarter. 2.59% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Wall Street Zen lowered shares of Safe and Green Development from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Safe and Green Development in a research note on Wednesday, June 24th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Safe and Green Development has an average rating of “Sell”.

Safe and Green Development Stock Performance

Shares of Safe and Green Development stock traded down $0.07 on Tuesday, hitting $2.01. 36,166 shares of the company’s stock were exchanged, compared to its average volume of 1,667,640. The company has a 50-day simple moving average of $1.83 and a 200-day simple moving average of $2.61. The stock has a market capitalization of $5.25 million, a PE ratio of -0.03 and a beta of 4.01. Safe and Green Development has a 1 year low of $1.40 and a 1 year high of $47.20. The company has a debt-to-equity ratio of 3.45, a quick ratio of 0.07 and a current ratio of 0.07.

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.