Safe and Green Development Corporation (NASDAQ:RENX) Shares Shorted: Short Interest Up 2,241.7% in September

by · The Markets Daily

Safe and Green Development Corporation (NASDAQ:RENX – Get Free Report) was the target of a significant increase in short interest in the month of September. As of September 15th, there was short interest totaling 195,017 shares, an increase of 2,241.7% from the August 31st total of 8,328 shares. Currently, 8.9% of the company’s stock are short sold. Based on an average daily volume of 100,283 shares, the days-to-cover ratio is presently 1.9 days.

Safe and Green Development Stock Up 7.8%

Shares of Safe and Green Development stock opened at $2.20 on Friday. The firm has a market cap of $5.83 million, a price-to-earnings ratio of -0.08 and a beta of 3.96. 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 has a 52-week low of $1.40 and a 52-week high of $33.00. The stock has a 50-day simple moving average of $1.91 and a 200-day simple moving average of $2.05.

Safe and Green Development (NASDAQ:RENX – Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($3.08) EPS for the quarter, missing the consensus estimate of ($1.56) by ($1.52). The firm had revenue of $4.26 million during the quarter, compared to the consensus estimate of $4.12 million. Safe and Green Development had a negative net margin of 169.20% and a negative return on equity of 550.70%. On average, equities research analysts expect that Safe and Green Development will post -5.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Zacks Research upgraded shares of Safe and Green Development to a “hold” rating in a research note on Tuesday, August 25th. Weiss Ratings restated a “sell (e+)” rating on shares of Safe and Green Development in a report on Monday. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce”.

View Our Latest Stock Report on RENX

Safe and Green Development Company Profile

(Get Free Report)

Safe and Green Development Corporation is a real estate development company focused on acquiring, developing and managing residential and commercial properties. The company seeks to create projects that incorporate sustainable building practices and modular construction methods.

Its activities may include land acquisition, project planning, development and property management. Safe and Green Development has been associated with the broader Safe & Green corporate platform, which provides experience in modular and environmentally focused construction solutions.

The company’s operations are focused in the United States, although its geographic presence and development pipeline may change as projects are acquired or completed.

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