Safe and Green Development Corporation (NASDAQ:RENX) Shares Shorted: Short Interest Down 73.7% in September

Safe and Green Development Corporation (NASDAQ:RENX) saw a significant drop in short interest in the month of September. As of September 30th, there was short interest totaling 51,289 shares, a drop of 73.7% from the September 15th total of 195,017 shares. Based on an average daily volume of 205,565 shares, the days-to-cover ratio is presently 0.2 days. Approximately 2.3% of the shares of the company are sold short.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Safe and Green Development in a research note on Monday, September 21st. Zacks Research raised shares of Safe and Green Development to a “hold” rating in a research report on Tuesday, August 25th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce”.

Safe and Green Development Stock Performance

RENX stock traded up $0.02 on Monday, reaching $1.69. 29,150 shares of the company were exchanged, compared to its average volume of 1,162,345. The firm has a market capitalization of $5.86 million, a PE ratio of -0.06 and a beta of 3.85. Safe and Green Development has a 12 month low of $1.40 and a 12 month high of $33.00. The stock’s fifty day moving average price is $1.93 and its 200 day moving average price is $1.99. 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 posted its quarterly earnings results on Thursday, August 13th. The company reported ($3.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.56) by ($1.52). The company had revenue of $4.26 million during the quarter, compared to analyst estimates of $4.12 million. Safe and Green Development had a negative return on equity of 550.70% and a negative net margin of 169.20%. On average, research analysts anticipate that Safe and Green Development will post -5.86 EPS for the current fiscal year.

About Safe and Green Development

Safe and Green Development Corporation is a real estate development company focused on acquiring, developing and managing residential, commercial and mixed-use properties. Its activities include identifying development opportunities, securing and improving land, and advancing projects through planning, construction and sale or other disposition.

The company is associated with sustainable and modular construction initiatives and seeks to use environmentally conscious development practices where appropriate.