Short Interest in Safe and Green Development Corporation (NASDAQ:SGD) Declines By 40.4%

Safe and Green Development Corporation (NASDAQ:SGD) saw a large decrease in short interest during the month of December. As of December 15th, there was short interest totaling 120,425 shares, a decrease of 40.4% from the November 30th total of 202,094 shares. Based on an average trading volume of 3,157,147 shares, the short-interest ratio is presently 0.0 days. Currently, 3.5% of the company’s stock are sold short. Currently, 3.5% of the company’s stock are sold short. Based on an average trading volume of 3,157,147 shares, the short-interest ratio is presently 0.0 days.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Wall Street Zen raised Safe and Green Development to a “sell” rating in a report on Friday, October 3rd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Safe and Green Development in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Safe and Green Development stock. Citadel Advisors LLC acquired a new stake in Safe and Green Development Corporation (NASDAQ:SGD) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 37,346 shares of the company’s stock, valued at approximately $50,000. Citadel Advisors LLC owned 0.42% of Safe and Green Development at the end of the most recent reporting period. Hedge funds and other institutional investors own 2.59% of the company’s stock.

Safe and Green Development Stock Down 11.1%

Safe and Green Development stock opened at $0.23 on Friday. Safe and Green Development has a fifty-two week low of $0.17 and a fifty-two week high of $2.89. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.07 and a current ratio of 0.07. The firm’s 50-day simple moving average is $0.80 and its 200 day simple moving average is $1.03. The stock has a market cap of $2.00 million, a PE ratio of -0.05 and a beta of 3.50.

Safe and Green Development (NASDAQ:SGD) last posted its earnings results on Friday, November 14th. The company reported ($1.12) EPS for the quarter. Safe and Green Development had a negative return on equity of 733.82% and a negative net margin of 277.22%.The firm had revenue of $5.01 million for the quarter.

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.