Safe and Green Development Corporation (NASDAQ:RENX) Sees Significant Decline in Short Interest

Safe and Green Development Corporation (NASDAQ:RENX) saw a large decline in short interest in the month of September. As of September 30th, there was short interest totaling 51,289 shares, a decline of 73.7% from the September 15th total of 195,017 shares. Approximately 2.3% of the company’s shares are short sold. Based on an average daily trading volume, of 205,565 shares, the days-to-cover ratio is presently 0.2 days.

Safe and Green Development Trading Down 4.3%

Shares of RENX stock traded down $0.07 during mid-day trading on Tuesday, reaching $1.54. The stock had a trading volume of 27,084 shares, compared to its average volume of 1,156,722. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $5.34 million, a PE ratio of -0.06 and a beta of 3.85. The stock’s 50-day moving average price is $1.92 and its two-hundred day moving average price is $1.99. 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 earnings results on Thursday, August 13th. The company reported ($3.08) EPS for the quarter, missing the consensus estimate 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 company had revenue of $4.26 million during the quarter, compared to the consensus estimate of $4.12 million. Equities analysts expect that Safe and Green Development will post -5.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on RENX shares. Zacks Research raised shares of Safe and Green Development to a “hold” rating in a research report on Tuesday, August 25th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Safe and Green Development in a report on Monday, September 21st. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock 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, commercial and mixed-use properties. Its activities include identifying development opportunities, securing and improving land, and advancing projects through planning, construction and sale or other disposition.

The company is associated with sustainable and modular construction initiatives and seeks to use environmentally conscious development practices where appropriate.