Safe and Green Development Corporation (NASDAQ:RENX) Short Interest Down 39.2% in July

Safe and Green Development Corporation (NASDAQ:RENX) saw a large drop in short interest in July. As of July 31st, there was short interest totaling 19,293 shares, a drop of 39.2% from the July 15th total of 31,722 shares. Based on an average daily volume of 55,665 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.9% of the shares of the company are sold short.

Safe and Green Development Price Performance

NASDAQ RENX traded up $0.08 on Tuesday, reaching $1.86. The company’s stock had a trading volume of 48,442 shares, compared to its average volume of 1,412,682. Safe and Green Development has a 52 week low of $1.40 and a 52 week high of $36.00. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 1.06. The firm has a market cap of $4.86 million, a PE ratio of -0.07 and a beta of 3.93. The business has a 50-day moving average price of $1.90 and a 200 day moving average price of $2.28.

Safe and Green Development (NASDAQ:RENX) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($3.08) EPS for the quarter, missing analysts’ consensus estimates of ($1.56) by ($1.52). 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 return on equity of 550.70% and a negative net margin of 169.20%. Sell-side analysts expect that Safe and Green Development will post -5.86 EPS for the current year.

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 purchased a new stake in Safe and Green Development Corporation (NASDAQ:RENX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 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 at the end of the most recent reporting period. Hedge funds and other institutional investors own 2.59% of the company’s stock.

Analyst Ratings Changes

RENX has been the subject of a number of recent research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Safe and Green Development in a research note on Wednesday, June 24th. Wall Street Zen downgraded shares of Safe and Green Development from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Safe and Green Development has an average 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.