Safe and Green Development Corporation (NASDAQ:RENX) Shares Shorted: Short Interest Up 2,241.7% in September

Safe and Green Development Corporation (NASDAQ:RENX) saw a large growth in short interest in the month of September. As of September 15th, there was short interest totaling 195,017 shares, a growth of 2,241.7% from the August 31st total of 8,328 shares. Currently, 8.9% of the company’s shares are sold short. Based on an average daily trading volume, of 100,283 shares, the days-to-cover ratio is currently 1.9 days.

Safe and Green Development Trading Up 12.7%

RENX stock traded up $0.23 during trading on Thursday, reaching $2.04. 353,079 shares of the stock traded hands, compared to its average volume of 1,228,208. The firm has a market capitalization of $5.40 million, a PE ratio of -0.07 and a beta of 3.96. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.16 and a quick ratio of 0.16. The business’s 50 day moving average price is $1.90 and its 200-day moving average price is $2.05. Safe and Green Development has a 52-week low of $1.40 and a 52-week high of $33.00.

Safe and Green Development (NASDAQ:RENX) last released 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). Safe and Green Development had a negative return on equity of 550.70% and a negative net margin of 169.20%.The firm had revenue of $4.26 million during the quarter, compared to analysts’ expectations of $4.12 million. As a group, sell-side analysts forecast that Safe and Green Development will post -5.86 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Safe and Green Development Company Profile

Safe and Green Development Corporation is a real estate development company focused on acquiring, developing and managing residential and commercial properties. The company seeks to create projects that incorporate sustainable building practices and modular construction methods.

Its activities may include land acquisition, project planning, development and property management. Safe and Green Development has been associated with the broader Safe & Green corporate platform, which provides experience in modular and environmentally focused construction solutions.

The company’s operations are focused in the United States, although its geographic presence and development pipeline may change as projects are acquired or completed.