Safe and Green Development Corporation (NASDAQ:RENX) Stock Short Interest Falls 70.7%

Safe and Green Development Corporation (NASDAQ:RENX) saw a large drop in short interest in October. As of October 30th, there was short interest totaling 5,236 shares, a drop of 70.7% from the October 15th total of 17,857 shares. Approximately 0.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 122,302 shares, the short-interest ratio is presently 0.0 days.

Safe and Green Development Trading Up 3.5%

Shares of NASDAQ:RENX traded up $0.04 on Friday, reaching $1.18. 20,865 shares of the company traded hands, compared to its average volume of 1,044,154. The business’s 50-day simple moving average is $1.59 and its 200 day simple moving average is $2.10. Safe and Green Development has a 52 week low of $0.84 and a 52 week high of $24.40. The stock has a market capitalization of $4.09 million, a P/E ratio of -0.04 and a beta of 4.04. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 1.06.

Safe and Green Development (NASDAQ:RENX) last released its earnings results on Thursday, August 13th. The company reported ($3.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.56) by ($1.52). The company had revenue of $4.26 million during the quarter, compared to the consensus estimate of $4.12 million. Safe and Green Development had a negative net margin of 169.20% and a negative return on equity of 550.70%. As a group, equities analysts anticipate that Safe and Green Development will post -5.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RENX. Zacks Research upgraded Safe and Green Development to a “hold” rating in a research report on Tuesday, August 25th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Safe and Green Development in a research report on Monday, September 21st. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Safe and Green Development has a consensus rating of “Reduce”.

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.