Safe and Green Development (NASDAQ:RENX) Shares Up 4.8% – Here’s What Happened

Safe and Green Development Corporation (NASDAQ:RENX)’s share price was up 4.8% during mid-day trading on Monday . The stock traded as high as $2.08 and last traded at $1.98. 20,035 shares traded hands during trading, a decline of 65% from the average session volume of 57,833 shares. The stock had previously closed at $1.89.

Analyst Upgrades and Downgrades

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

Safe and Green Development Stock Down 2.5%

The stock has a 50 day moving average price of $1.86 and a 200 day moving average price of $2.37. The company has a debt-to-equity ratio of 3.45, a quick ratio of 0.07 and a current ratio of 0.07. The company has a market capitalization of $5.14 million, a P/E ratio of -0.03 and a beta of 3.94.

Institutional Trading of Safe and Green Development

An institutional investor recently raised its position in Safe and Green Development stock. Virtu Financial LLC grew its stake in shares of Safe and Green Development Corporation (NASDAQ:RENX) by 127.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 26,645 shares of the company’s stock after acquiring an additional 14,954 shares during the period. Virtu Financial LLC owned about 0.30% of Safe and Green Development worth $36,000 at the end of the most recent reporting period. 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.