Safe and Green Development Corporation (NASDAQ:RENX) Stock Short Interest Climbs 2,241.7%

Safe and Green Development Corporation (NASDAQ:RENX) was the target of a large growth in short interest in September. As of September 15th, there was short interest totaling 195,017 shares, a growth of 2,241.7% from the August 31st total of 8,328 shares. Based on an average daily trading volume, of 100,283 shares, the short-interest ratio is presently 1.9 days. Currently, 8.9% of the company’s stock are sold short.

Safe and Green Development Stock Performance

Safe and Green Development stock traded up $0.06 during mid-day trading on Friday, reaching $2.10. 25,619 shares of the company traded hands, compared to its average volume of 1,221,716. The firm’s fifty day moving average is $1.90 and its two-hundred day moving average is $2.05. The company has a market capitalization of $5.58 million, a price-to-earnings ratio of -0.08 and a beta of 3.96. Safe and Green Development has a fifty-two week low of $1.40 and a fifty-two week high of $33.00. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.16 and a quick ratio of 0.16.

Safe and Green Development (NASDAQ:RENX) last posted 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 $4.26 million for the quarter, compared to analyst estimates of $4.12 million. Safe and Green Development had a negative return on equity of 550.70% and a negative net margin of 169.20%. On average, equities research analysts expect that Safe and Green Development will post -5.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on RENX. Weiss Ratings reiterated a “sell (e+)” rating on shares of Safe and Green Development in a research note on Monday. Zacks Research upgraded shares of Safe and Green Development to a “hold” rating in a research note on Tuesday, August 25th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Safe and Green Development presently has a consensus rating of “Reduce”.

Safe and Green Development Company Profile

Safe and Green Development Corporation is a real estate development company focused on acquiring, developing and managing residential and commercial properties. The company seeks to create projects that incorporate sustainable building practices and modular construction methods.

Its activities may include land acquisition, project planning, development and property management. Safe and Green Development has been associated with the broader Safe & Green corporate platform, which provides experience in modular and environmentally focused construction solutions.

The company’s operations are focused in the United States, although its geographic presence and development pipeline may change as projects are acquired or completed.