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

Safe and Green Development (NASDAQ:RENX) announced its quarterly earnings data on Thursday. The company reported ($3.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.56) by ($1.52), Zacks reports. Safe and Green Development had a negative net margin of 190.02% and a negative return on equity of 596.53%.

Safe and Green Development Price Performance

RENX remained flat at $2.00 on Thursday. The company’s stock had a trading volume of 63,174 shares, compared to its average volume of 51,201. Safe and Green Development has a 12-month low of $1.40 and a 12-month high of $36.00. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 3.45. The stock’s 50-day moving average is $1.90 and its 200 day moving average is $2.30.

Institutional Investors Weigh In On Safe and Green Development

An institutional investor recently bought a new stake in Safe and Green Development stock. Citadel Advisors LLC purchased a new position in shares of Safe and Green Development Corporation (NASDAQ:RENX) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 37,346 shares of the company’s stock, valued at approximately $50,000. Citadel Advisors LLC owned approximately 0.42% of Safe and Green Development at the end of the most recent reporting period. Hedge funds and other institutional investors own 2.59% of the company’s stock.

Analyst Upgrades and Downgrades

RENX has been the topic of several research reports. Wall Street Zen cut shares of Safe and Green Development from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Weiss Ratings reissued a “sell (e+)” rating on shares of Safe and Green Development in a research report on Wednesday, June 24th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Safe and Green Development presently has a consensus 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. Safe and Green Development Corporation is a subsidiary of Safe & Green Holdings Corp.