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

Safe and Green Development (NASDAQ:RENX) was upgraded by Zacks Research to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

RENX has been the subject of a number of other research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Safe and Green Development in a research note on Wednesday, June 24th. Wall Street Zen lowered Safe and Green Development from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

Safe and Green Development Stock Up 2.0%

Shares of NASDAQ RENX opened at $2.02 on Tuesday. Safe and Green Development has a 12-month low of $1.40 and a 12-month high of $36.00. The company has a market cap of $5.35 million, a P/E ratio of -0.07 and a beta of 3.94. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 1.06. The stock has a fifty day moving average price of $1.93 and a 200 day moving average price of $2.23.

Safe and Green Development (NASDAQ:RENX) last released its quarterly earnings data on Thursday, August 13th. The company reported ($3.08) EPS for the quarter, missing the consensus estimate of ($1.56) by ($1.52). The company had revenue of $3.49 million during 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 anticipate that Safe and Green Development will post -5.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Safe and Green Development stock. Citadel Advisors LLC purchased a new stake in Safe and Green Development Corporation (NASDAQ:RENX) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 37,346 shares of the company’s stock, valued at approximately $50,000. Citadel Advisors LLC owned about 0.42% of Safe and Green Development as of its most recent filing with the Securities and Exchange Commission (SEC). 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.