Safe and Green Development (NASDAQ:SGD) Trading Down 3.6% – Here’s What Happened

Safe and Green Development Corporation (NASDAQ:SGD)’s stock price fell 3.6% during trading on Friday . The company traded as low as $1.69 and last traded at $1.82. 605,256 shares traded hands during trading, a decline of 85% from the average session volume of 3,962,076 shares. The stock had previously closed at $1.8880.

Safe and Green Development Stock Performance

The stock’s 50 day simple moving average is $0.18 and its two-hundred day simple moving average is $0.63. The company has a market capitalization of $16.17 million, a P/E ratio of -0.41 and a beta of 3.50. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.07 and a quick ratio of 0.07.

Institutional Inflows and Outflows

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

About Safe and Green Development

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.