Safe and Green Development Corporation (NASDAQ:RENX) Stock Short Interest Falls 70.7%

Safe and Green Development Corporation (NASDAQ:RENX) was the target of a large decrease in short interest in the month of October. As of October 30th, there was short interest totaling 5,236 shares, a decrease of 70.7% from the October 15th total of 17,857 shares. Approximately 0.2% of the company’s shares are sold short. Based on an average daily trading volume, of 122,302 shares, the short-interest ratio is presently 0.0 days.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on RENX shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Safe and Green Development in a report on Monday, September 21st. Zacks Research raised shares of Safe and Green Development to a “hold” rating in a research note on Tuesday, August 25th. One 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 stock presently has a consensus rating of “Reduce”.

Safe and Green Development Trading Up 3.5%

NASDAQ RENX traded up $0.04 on Friday, hitting $1.18. The company’s stock had a trading volume of 20,865 shares, compared to its average volume of 1,044,154. The firm has a market cap of $4.09 million, a P/E ratio of -0.04 and a beta of 4.04. Safe and Green Development has a 52-week low of $0.84 and a 52-week high of $24.40. The company’s 50-day simple moving average is $1.59 and its 200 day simple moving average is $2.10. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 1.06.

Safe and Green Development (NASDAQ:RENX) last posted its earnings results on Thursday, August 13th. The company reported ($3.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.56) by ($1.52). The business had revenue of $4.26 million for the quarter, compared to analysts’ expectations of $4.12 million. Safe and Green Development had a negative net margin of 169.20% and a negative return on equity of 550.70%. Research analysts predict that Safe and Green Development will post -5.86 EPS for the current fiscal year.

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.