Safe & Green (NASDAQ:SGBX) Stock Price Down 8.2% – Here’s Why

Safe & Green Holdings Corp. (NASDAQ:SGBX) dropped 8.2% during mid-day trading on Tuesday . The company traded as low as $0.22 and last traded at $0.22. Approximately 3,592,356 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 26,982,044 shares. The stock had previously closed at $0.24.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Safe & Green to a “sell” rating in a report on Friday, June 27th.

Safe & Green Trading Down 8.2%

The stock has a fifty day moving average price of $0.57 and a two-hundred day moving average price of $0.57. The company has a current ratio of 0.16, a quick ratio of 0.02 and a debt-to-equity ratio of 0.26.

Safe & Green (NASDAQ:SGBX) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.47) earnings per share for the quarter. The business had revenue of $0.72 million for the quarter. Safe & Green had a negative net margin of 411.90% and a negative return on equity of 411.70%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Safe & Green stock. XTX Topco Ltd lifted its stake in shares of Safe & Green Holdings Corp. (NASDAQ:SGBX) by 360.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 50,561 shares of the company’s stock after acquiring an additional 39,576 shares during the quarter. XTX Topco Ltd owned about 0.41% of Safe & Green worth $33,000 at the end of the most recent reporting period. 3.50% of the stock is currently owned by institutional investors.

About Safe & Green

Safe & Green Holdings Corp. is a design and construction services company, which engages in the provision of code engineered cargo shipping containers. It operates through the following segments: Construction, Medical, Development, and Corporate and Support. The Construction Services segment includes the manufacturing of unit SG ECHO and other modules projects.