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

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RENX. Wall Street Zen cut Safe and Green Development from a “hold” rating to a “sell” rating in a research note 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 analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Safe and Green Development stock. Virtu Financial LLC lifted its holdings in shares of Safe and Green Development Corporation (NASDAQ:RENX) by 127.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,645 shares of the company’s stock after buying an additional 14,954 shares during the period. Virtu Financial LLC owned approximately 0.30% of Safe and Green Development worth $36,000 at the end of the most recent reporting period. 2.59% of the stock is currently owned by institutional investors and hedge funds.

Safe and Green Development Price Performance

Shares of RENX opened at $1.89 on Wednesday. Safe and Green Development has a twelve month low of $1.40 and a twelve month high of $36.00. The company has a market capitalization of $4.93 million, a P/E ratio of -0.07 and a beta of 3.93. The firm has a 50 day moving average of $1.90 and a 200 day moving average of $2.27. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 1.06.

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

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.