Safe and Green Development (NASDAQ:RENX) Stock Rating Upgraded by Wall Street Zen

Safe and Green Development (NASDAQ:RENX) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Safe and Green Development in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Safe and Green Development has an average rating of “Sell”.

Safe and Green Development Stock Performance

Shares of RENX stock opened at $2.40 on Friday. The business’s fifty day simple moving average is $2.78 and its 200-day simple moving average is $10.66. The company has a market cap of $6.02 million, a PE ratio of -0.03 and a beta of 3.87. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 2.10. Safe and Green Development has a 12-month low of $1.42 and a 12-month high of $47.20.

Safe and Green Development (NASDAQ:RENX) last issued its quarterly earnings results on Wednesday, April 1st. The company reported $3.01 earnings per share (EPS) for the quarter. The business had revenue of $5.57 million for the quarter. Safe and Green Development had a negative return on equity of 577.52% and a negative net margin of 194.13%.

Institutional Investors Weigh In On Safe and Green Development

An institutional investor recently raised its position in Safe and Green Development stock. Virtu Financial LLC increased its stake in shares of Safe and Green Development Corporation (NASDAQ:RENX) by 127.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,645 shares of the company’s stock after buying an additional 14,954 shares during the quarter. Virtu Financial LLC owned about 0.30% of Safe and Green Development worth $36,000 as of its most recent SEC filing. 2.59% of the stock is currently owned by institutional investors and hedge funds.

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.