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Safe and Green Development Corp (NASDAQ: SGD): Still A Hot Buy?

Safe and Green Development Corp (NASDAQ:SGD) price closed higher on Friday, November 17, jumping 38.94% above its previous close.

A look at the daily price movement shows that the last close reads $3.03, with intraday deals fluctuated between $4.06 and $8.42. Taking into account the 52-week price action we note that the stock hit a 52-week high of $10.46 and 52-week low of $0.38. The stock added 250.83% on its value in the past month.

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Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews.

The overview shows that SGD’s price is at present 360.16% off the SMA20 and 174.43% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 75.35, with weekly volatility standing at 271.68%. The indicator jumps to 81.23% when calculated based on the past 30 days. Safe and Green Development Corp (NASDAQ:SGD)’s beta value is holding at 0, while the average true range (ATR) indicator is currently reading 1.01.

An analysis of the Safe and Green Development Corp (NASDAQ:SGD) stock in terms of its daily trading volume indicates that the 3-month average is 544.23K. However, this figure increases on the past 10-day timeline to an average of 5.63 million.

Current records show that the company has 16.30M in outstanding shares. The percentage share held by institutions stands at 1.34%. The stats also highlight that short interest as of Oct 30, 2023, stood at 50910.0 shares, which puts the short ratio at the time at 1.29. From this we can glean that short interest is 0.44% of company’s current outstanding shares. Notably, we see that shares short in October fall slightly given the previous month’s figure stood at 92310.0. But the -36.21% downside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.