Safe and Green Development (NASDAQ:SGD) Announces Quarterly Earnings Results

Safe and Green Development (NASDAQ:SGD) posted its quarterly earnings results on Friday. The company reported ($1.12) EPS for the quarter, Zacks reports. Safe and Green Development had a negative return on equity of 741.44% and a negative net margin of 766.20%.

Safe and Green Development Stock Performance

Shares of SGD stock traded down $0.11 on Friday, hitting $0.98. The company had a trading volume of 1,180,842 shares, compared to its average volume of 291,634. Safe and Green Development has a twelve month low of $0.65 and a twelve month high of $3.16. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.92. The firm has a market cap of $8.69 million, a P/E ratio of -0.16 and a beta of 3.58. The company has a 50-day moving average price of $1.22 and a 200-day moving average price of $1.09.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Safe and Green Development stock. Virtu Financial LLC grew its position in Safe and Green Development Corporation (NASDAQ:SGD) by 127.9% in the third quarter, according to the company in its most recent disclosure with the SEC. 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 quarter. 2.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on SGD. Weiss Ratings reissued a “sell (e+)” rating on shares of Safe and Green Development in a research note on Wednesday, October 8th. Wall Street Zen upgraded Safe and Green Development to a “sell” rating in a report on Friday, October 3rd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Safe and Green Development has an average rating of “Sell”.

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.