Geode Capital Management LLC recently announced the acquisition of new stake in Safe & Green Holdings Corp (NASDAQ:SGBX). The institutional investor has increased its shareholding in the Industrials company by 44.63% to 0.11 million shares with purchase of 34682.0 shares. This fresh investment now brings its stake to 0.70% valued currently at $39564.0. In addition, JPMorgan Asset Management raised its holdings by 6780.0 to 6780.0 shares.
With over 8.12 million Safe & Green Holdings Corp (SGBX) shares trading Tuesday and a closing price of $0.80 on the day, the dollar volume was approximately $6.5 million. The shares have shown a positive half year performance of 105.67% and its price on 11/21/23 lost nearly -5.82%. Currently, there are 12.59M common shares owned by the public and among those 10.26M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for SGBX have a consensus price objective of $2.81. The analysts have set the share’s price value over the next 12 months at a high of $2.81 and a low of $2.81. The average price target is 71.53% above its recent price level and an upside to the estimated low will see the stock gain 71.53% over that period. But an upside of 71.53% will see the stock hit the forecast high price target while median target price for the stock is $2.81.
Insiders at the company have transacted a total of 88 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 15 of these insider trades were purchases, accounting for 1,609,527 shares. Insider sales of the common stock occurred on 73 occasions, with total insider shares sold totaling 315,906 shares.
The top 3 mutual fund holders in Safe & Green Holdings Corp are Vanguard Extended Market Index Fu, Vanguard Total Stock Market ETF, and Fidelity Extended Market Index Fu. Vanguard Extended Market Index Fu owns 0.18 million shares of the company’s stock, all valued at over $64550.0. Fidelity Extended Market Index Fu bought 34528.0 shares to bring its total holdings to over 78684.0 shares at a value of $27697.0. Fidelity Extended Market Index Fu now owns shares totaling to 0.49% of the shares outstanding.
Shares of Safe & Green Holdings Corp (NASDAQ: SGBX) opened at $0.829, down -$0.02 from a prior closing price of $0.85. However, the script later moved the day high at 1.0100, down -5.82%. The company’s stock has a 5-day price change of 95.12% and 33.37% over the past three months. SGBX shares are trading 24.60% year to date (YTD), with the 12-month market performance up to 31.31% higher. It has a 12-month low price of $0.32 and touched a high of $1.35 over the same period. SGBX has an average intraday trading volume of 1.60 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 73.79%, 55.30%, and 63.23% respectively.
Institutional ownership of Safe & Green Holdings Corp (NASDAQ: SGBX) shares accounts for 4.61% of the company’s 12.59M shares outstanding. Mutual fund holders own 2.60%, while other institutional holders and individual stakeholders account for 37.25% and 2.15% respectively.
It has a market capitalization of $13.18M and a beta (3y monthly) value of -2.03. The earnings-per-share (ttm) stands at -$1.15. Price movements for the stock have been influenced by the stock’s volatility, which stands at 81.64% over the week and 29.38% over the month.
Analysts forecast that Safe & Green Holdings Corp (SGBX) will achieve an EPS of -$0.37 for the current quarter, -$0.29 for the next quarter and -$1.33 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.37 while analysts give the company a high EPS estimate of -$0.37. Comparatively, EPS for the current quarter was -$0.24 a year ago. Earnings per share for the fiscal year are expected to decrease by -118.64%, and -3.10% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Safe & Green Holdings Corp (SGBX) as a “Strong Buy” at a consensus score of 1.00. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
