Safe and Green Development (NASDAQ:RENX – Get Free Report) was upgraded by equities research analysts at Zacks Research to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.
Other equities analysts have also recently issued reports about the company. Wall Street Zen cut Safe and Green Development from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Weiss Ratings restated a “sell (e+)” rating on shares of Safe and Green Development in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce”.
Get Our Latest Analysis on Safe and Green Development
Safe and Green Development Stock Up 2.0%
Safe and Green Development (NASDAQ:RENX – Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($3.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.56) by ($1.52). Safe and Green Development had a negative return on equity of 550.70% and a negative net margin of 169.20%.The firm had revenue of $3.49 million during the quarter, compared to analyst estimates of $4.12 million. Equities analysts predict that Safe and Green Development will post -5.86 EPS for the current year.
Institutional Investors Weigh In On Safe and Green Development
An institutional investor recently bought a new position in Safe and Green Development stock. Citadel Advisors LLC acquired a new stake in shares of Safe and Green Development Corporation (NASDAQ:RENX – Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 37,346 shares of the company’s stock, valued at approximately $50,000. Citadel Advisors LLC owned approximately 0.42% of Safe and Green Development at the end of the most recent quarter. 2.59% of the stock is currently owned by institutional investors and hedge funds.
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.
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