Safe and Green Development (NASDAQ:SGD) Shares Up 51.6% – Time to Buy?

Safe and Green Development Corporation (NASDAQ:SGD) shares shot up 51.6% during trading on Thursday . The company traded as high as $0.35 and last traded at $0.2122. 836,075,419 shares changed hands during mid-day trading, an increase of 21,002% from the average session volume of 3,962,076 shares. The stock had previously closed at $0.14.

Safe and Green Development Stock Up 51.6%

The stock has a market cap of $1.88 million, a P/E ratio of -0.05 and a beta of 3.50. The firm has a 50 day simple moving average of $0.22 and a 200-day simple moving average of $0.85. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 1.79.

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

Hedge Funds Weigh In On Safe and Green Development

A hedge fund recently bought a new stake in Safe and Green Development stock. Citadel Advisors LLC bought a new stake in Safe and Green Development Corporation (NASDAQ:SGD) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 37,346 shares of the company’s stock, valued at approximately $50,000. Citadel Advisors LLC owned 0.42% of Safe and Green Development as of its most recent SEC filing. 2.59% of the stock is owned by institutional investors.

Safe and Green Development Company Profile

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.