Short Interest in Safe and Green Development Corporation (NASDAQ:RENX) Decreases By 65.8%

Safe and Green Development Corporation (NASDAQ:RENX) was the recipient of a significant drop in short interest in June. As of June 30th, there was short interest totaling 36,798 shares, a drop of 65.8% from the June 15th total of 107,524 shares. Approximately 1.7% of the company’s stock are sold short. Based on an average trading volume of 104,435 shares, the days-to-cover ratio is currently 0.4 days.

Wall Street Analysts Forecast Growth

RENX has been the subject of a number of analyst reports. Wall Street Zen cut shares of Safe and Green Development from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Weiss Ratings restated a “sell (e+)” rating on shares of Safe and Green Development in a research note on Wednesday, June 24th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

Safe and Green Development Price Performance

NASDAQ RENX opened at $2.06 on Monday. Safe and Green Development has a fifty-two week low of $1.40 and a fifty-two week high of $47.20. The stock’s 50-day moving average is $1.85 and its two-hundred day moving average is $2.63. The firm has a market cap of $5.38 million, a P/E ratio of -0.03 and a beta of 4.01. The company has a debt-to-equity ratio of 3.45, a current ratio of 0.07 and a quick ratio of 0.07.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Safe and Green Development stock. Citadel Advisors LLC bought a new position in Safe and Green Development Corporation (NASDAQ:RENX) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 37,346 shares of the company’s stock, valued at approximately $50,000. Citadel Advisors LLC owned about 0.42% of Safe and Green Development as of its most recent filing with the Securities and Exchange Commission. 2.59% of the stock is currently owned by institutional investors.

Safe and Green Development Company Profile

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.