Safe and Green Development (NASDAQ:RENX) Stock Price Up 1.8% – Here’s What Happened

Safe and Green Development Corporation (NASDAQ:RENX) rose 1.8% during trading on Monday . The company traded as high as $1.86 and last traded at $1.74. Approximately 14,791 shares traded hands during trading, a decline of 86% from the average daily volume of 103,830 shares. The stock had previously closed at $1.71.

Wall Street Analyst Weigh In

Several brokerages have weighed in on RENX. Zacks Research raised shares of Safe and Green Development to a “hold” rating in a report on Tuesday, August 25th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Safe and Green Development in a research note on Monday. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce”.

Safe and Green Development Stock Up 3.4%

The business has a 50-day moving average of $1.91 and a 200 day moving average of $2.06. The company has a market capitalization of $4.80 million, a PE ratio of -0.07 and a beta of 3.96. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.16 and a quick ratio of 0.16.

Safe and Green Development (NASDAQ:RENX) last released its quarterly earnings results on Thursday, August 13th. The company reported ($3.08) earnings per share for the quarter, missing the consensus estimate of ($1.56) by ($1.52). Safe and Green Development had a negative net margin of 169.20% and a negative return on equity of 550.70%. The firm had revenue of $4.26 million for the quarter, compared to analysts’ expectations of $4.12 million. Equities research analysts predict that Safe and Green Development Corporation will post -5.86 earnings per share for the current year.

About Safe and Green Development

Safe and Green Development Corporation is a real estate development company focused on acquiring, developing and managing residential and commercial properties. The company seeks to create projects that incorporate sustainable building practices and modular construction methods.

Its activities may include land acquisition, project planning, development and property management. Safe and Green Development has been associated with the broader Safe & Green corporate platform, which provides experience in modular and environmentally focused construction solutions.

The company’s operations are focused in the United States, although its geographic presence and development pipeline may change as projects are acquired or completed.