Safe and Green Development (NASDAQ:RENX) Posts Quarterly Earnings Results

Safe and Green Development (NASDAQ:RENX) issued its earnings results on Wednesday. The company reported $3.01 earnings per share for the quarter, FiscalAI reports. Safe and Green Development had a negative net margin of 277.22% and a negative return on equity of 733.82%. The business had revenue of $5.57 million for the quarter.

Safe and Green Development Price Performance

Shares of RENX opened at $2.02 on Friday. The business’s fifty day moving average is $2.84 and its 200 day moving average is $11.65. Safe and Green Development has a 12-month low of $1.42 and a 12-month high of $47.20. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 1.79. The stock has a market cap of $4.69 million, a P/E ratio of -0.02 and a beta of 3.87.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Safe and Green Development stock. Citadel Advisors LLC acquired a new stake in shares of Safe and Green Development Corporation (NASDAQ:RENX) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 37,346 shares of the company’s stock, valued at approximately $50,000. Citadel Advisors LLC owned about 0.42% of Safe and Green Development at the end of the most recent reporting period. 2.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RENX has been the topic of a number of recent analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Safe and Green Development in a research report on Friday, March 27th. Wall Street Zen raised Safe and Green Development to a “sell” rating in a report on Monday. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

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.