Safe and Green Development (NASDAQ:RENX) Upgraded at Zacks Research

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

RENX has been the topic of several other research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Safe and Green Development in a report on Wednesday, June 24th. Wall Street Zen cut Safe and Green Development from a “hold” rating to a “sell” rating in a 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 MarketBeat, the stock has a consensus rating of “Reduce”.

Safe and Green Development Price Performance

RENX stock opened at $2.02 on Tuesday. The stock has a market cap of $5.35 million, a price-to-earnings ratio of -0.07 and a beta of 3.94. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.16 and a quick ratio of 0.16. The company has a 50 day simple moving average of $1.93 and a 200 day simple moving average of $2.23. Safe and Green Development has a 1 year low of $1.40 and a 1 year high of $36.00.

Safe and Green Development (NASDAQ:RENX) last issued its earnings results on Thursday, August 13th. The company reported ($3.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.56) by ($1.52). The company had revenue of $3.49 million during the quarter, compared to analyst estimates 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 Trading of Safe and Green Development

An institutional investor recently raised its stake in Safe and Green Development stock. Virtu Financial LLC raised its stake in shares of Safe and Green Development Corporation (NASDAQ:RENX) by 127.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 26,645 shares of the company’s stock after purchasing 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. Institutional investors own 2.59% of the company’s stock.

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.