Safe and Green Development (NASDAQ:RENX) Upgraded to “Hold” at Zacks Research

Zacks Research upgraded shares of Safe and Green Development (NASDAQ:RENX) to a hold rating in a research report released on Tuesday,Zacks.com reports.

A number of other brokerages also recently commented on RENX. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Safe and Green Development in a research report on Wednesday, June 24th. Wall Street Zen cut Safe and Green Development from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce”.

Safe and Green Development Trading Up 2.0%

NASDAQ:RENX opened at $2.02 on Tuesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.16 and a current ratio of 0.16. The firm has a market cap of $5.35 million, a price-to-earnings ratio of -0.07 and a beta of 3.94. Safe and Green Development has a 52 week low of $1.40 and a 52 week high of $36.00. The firm has a 50-day moving average price of $1.93 and a two-hundred day moving average price of $2.23.

Safe and Green Development (NASDAQ:RENX) last posted 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 firm had revenue of $3.49 million for the quarter, compared to the consensus estimate of $4.12 million. On average, equities analysts expect that Safe and Green Development will post -5.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Safe and Green Development stock. Virtu Financial LLC raised its stake in Safe and Green Development Corporation (NASDAQ:RENX) by 127.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,645 shares of the company’s stock after acquiring an additional 14,954 shares during the quarter. Virtu Financial LLC owned approximately 0.30% of Safe and Green Development worth $36,000 as of its most recent filing with the Securities & Exchange Commission. 2.59% of the stock is 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.