Safe and Green Development (NASDAQ:SGD) Shares Down 3.6% – Here’s What Happened

Safe and Green Development Corporation (NASDAQ:SGD) was down 3.6% on Friday . The company traded as low as $1.69 and last traded at $1.82. Approximately 605,256 shares traded hands during trading, a decline of 85% from the average daily volume of 3,962,076 shares. The stock had previously closed at $1.8880.

Safe and Green Development Stock Down 13.2%

The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 1.79. The company has a market capitalization of $14.04 million, a P/E ratio of -0.35 and a beta of 3.50. The stock has a 50 day moving average price of $0.18 and a 200 day moving average price of $0.62.

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 shares of Safe and Green Development Corporation (NASDAQ:SGD) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 quarter. Hedge funds and other institutional investors own 2.59% of the company’s stock.

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.