Safe and Green Development Corporation (NASDAQ:RENX) Stock Short Interest Declines 65.2%

Safe and Green Development Corporation (NASDAQ:RENX) was the recipient of a significant decline in short interest in October. As of October 15th, there was short interest totaling 17,857 shares, a decline of 65.2% from the September 30th total of 51,289 shares. Based on an average daily volume of 92,350 shares, the short-interest ratio is presently 0.2 days. Currently, 0.6% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Several analysts recently commented on RENX shares. Zacks Research raised shares of Safe and Green Development to a “hold” rating in a research note on Tuesday, August 25th. Weiss Ratings reissued a “sell (e+)” rating on shares of Safe and Green Development in a research note on Monday, September 21st. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Safe and Green Development has a consensus rating of “Reduce”.

Safe and Green Development Trading Down 5.5%

Shares of Safe and Green Development stock traded down $0.06 during trading on Thursday, hitting $1.04. The stock had a trading volume of 55,975 shares, compared to its average volume of 1,096,961. Safe and Green Development has a 1 year low of $0.95 and a 1 year high of $24.60. The stock has a 50 day simple moving average of $1.81 and a 200 day simple moving average of $2.24. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $3.61 million, a PE ratio of -0.04 and a beta of 3.85.

Safe and Green Development (NASDAQ:RENX) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($3.08) EPS for the quarter, missing analysts’ consensus estimates of ($1.56) by ($1.52). The firm had revenue of $4.26 million during the quarter, compared to analyst estimates 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%. On average, research analysts expect that Safe and Green Development will post -5.86 EPS for the current fiscal year.

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.