Safe and Green Development (NASDAQ:RENX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Safe and Green Development (NASDAQ:RENX) from a sell rating to a hold rating in a research note released on Saturday.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Safe and Green Development in a research note on Friday, March 27th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Safe and Green Development Stock Up 15.0%

RENX opened at $2.76 on Friday. Safe and Green Development has a 1-year low of $1.42 and a 1-year high of $47.20. The stock’s fifty day simple moving average is $2.77 and its 200 day simple moving average is $10.22. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 2.10. The stock has a market cap of $6.93 million, a PE ratio of -0.03 and a beta of 3.87.

Safe and Green Development (NASDAQ:RENX) last posted its quarterly earnings results on Wednesday, April 1st. The company reported $3.01 earnings per share for the quarter. Safe and Green Development had a negative return on equity of 577.52% and a negative net margin of 194.13%.The business had revenue of $5.57 million for the quarter.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Safe and Green Development stock. Virtu Financial LLC grew its position in shares of Safe and Green Development Corporation (NASDAQ:RENX) by 127.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,645 shares of the company’s stock after buying an additional 14,954 shares during the period. Virtu Financial LLC owned approximately 0.30% of Safe and Green Development worth $36,000 at the end of the most recent quarter. 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.