Safe and Green Development Corporation (NASDAQ:SGD) Sees Large Drop in Short Interest

Safe and Green Development Corporation (NASDAQ:SGD) was the target of a large decline in short interest in the month of September. As of September 15th, there was short interest totaling 195,200 shares, a decline of 28.5% from the August 31st total of 273,100 shares. Currently, 9.0% of the shares of the company are short sold. Based on an average trading volume of 2,660,000 shares, the days-to-cover ratio is currently 0.1 days. Based on an average trading volume of 2,660,000 shares, the days-to-cover ratio is currently 0.1 days. Currently, 9.0% of the shares of the company are short sold.

Safe and Green Development Price Performance

Shares of NASDAQ SGD opened at $1.45 on Tuesday. The stock has a fifty day moving average price of $1.30 and a 200 day moving average price of $1.11. Safe and Green Development has a 1-year low of $0.65 and a 1-year high of $6.30. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.92.

Safe and Green Development (NASDAQ:SGD) last announced its quarterly earnings data on Thursday, August 14th. The company reported ($2.29) EPS for the quarter. The firm had revenue of $1.40 million for the quarter. Safe and Green Development had a negative return on equity of 741.44% and a negative net margin of 766.20%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SGD. Weiss Ratings reiterated a “sell (e+)” rating on shares of Safe and Green Development in a research note on Saturday, September 27th. Wall Street Zen raised shares of Safe and Green Development to a “sell” rating in a report on Friday. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

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.