Wall Street Zen Upgrades Safe and Green Development (NASDAQ:RENX) to Sell

Safe and Green Development (NASDAQ:RENX) was upgraded by Wall Street Zen to a “sell” rating in a report issued on Monday.

Safe and Green Development Price Performance

Shares of NASDAQ:RENX traded down $0.01 during midday trading on Monday, reaching $1.58. 63,287 shares of the company were exchanged, compared to its average volume of 1,574,965. The stock has a market cap of $13.99 million, a PE ratio of -0.35 and a beta of 3.50. The business’s fifty day moving average is $0.18 and its two-hundred day moving average is $0.62. Safe and Green Development has a one year low of $1.42 and a one year high of $47.20. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 1.79.

Institutional Inflows and Outflows

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