Safe and Green Development (NASDAQ:SGD) Trading Up 51.6% – Time to Buy?

Safe and Green Development Corporation (NASDAQ:SGD) traded up 51.6% during mid-day trading on Thursday . The company traded as high as $0.35 and last traded at $0.2122. 836,075,419 shares were traded during trading, an increase of 21,002% from the average session volume of 3,962,076 shares. The stock had previously closed at $0.14.

Safe and Green Development Stock Performance

The firm has a market cap of $1.71 million, a price-to-earnings ratio of -0.04 and a beta of 3.50. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 1.79. The stock’s 50 day moving average is $0.20 and its 200 day moving average is $0.85.

Safe and Green Development (NASDAQ:SGD) last issued its quarterly earnings data on Friday, November 14th. The company reported ($1.12) earnings per share (EPS) for the quarter. The firm had revenue of $5.01 million for the quarter. Safe and Green Development had a negative return on equity of 733.82% and a negative net margin of 277.22%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Safe and Green Development stock. Virtu Financial LLC grew its holdings in Safe and Green Development Corporation (NASDAQ:SGD) by 127.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,645 shares of the company’s stock after acquiring an additional 14,954 shares during the quarter. Virtu Financial LLC owned 0.30% of Safe and Green Development worth $36,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 2.59% of the company’s stock.

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.