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

Safe and Green Development (NASDAQ:RENX) released its quarterly earnings data on Thursday. The company reported ($3.08) earnings per share for the quarter, missing the consensus estimate of ($1.56) by ($1.52), Zacks reports. Safe and Green Development had a negative net margin of 190.02% and a negative return on equity of 596.53%.

Safe and Green Development Stock Performance

RENX opened at $2.00 on Friday. The business’s 50-day moving average price is $1.90 and its two-hundred day moving average price is $2.30. Safe and Green Development has a 1 year low of $1.40 and a 1 year high of $36.00. The company has a market capitalization of $5.22 million, a price-to-earnings ratio of -0.03 and a beta of 3.94. The company has a debt-to-equity ratio of 3.45, a current ratio of 0.07 and a quick ratio of 0.07.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Safe and Green Development stock. Virtu Financial LLC increased its position in shares of Safe and Green Development Corporation (NASDAQ:RENX) by 127.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 26,645 shares of the company’s stock after buying an additional 14,954 shares during the quarter. Virtu Financial LLC owned 0.30% of Safe and Green Development worth $36,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 2.59% of the company’s stock.

Analysts Set New Price Targets

RENX has been the subject of a number of research reports. 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 reaffirmed a “sell (e+)” rating on shares of Safe and Green Development in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus 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.