Updated: Feb. 28, 2025
(NEW YORK)--Ludlow Research maintains its coverage on Safe & Green Holdings Corp. (NASDAQ: SGBX), a leading developer, designer, and fabricator of modular structures, with a short-term price target of $2.00+.
The company has entered into a definitive Agreement and Plan of Merger with New Asia Holdings, which owns Olenox Corp. and Machfu.com, innovative leaders in the energy and industrial IoT sectors. Machfu's flagship MachGateway® and Edge-to-Enterprise™ software solutions have over 20,000 gateways deployed worldwide, enhancing operational efficiency, predictive maintenance, and real-time analytics across multiple industries including oil & gas, utilities, and manufacturing.
NASDAQ Listing, No Reverse Split
on Feb. 28, 2025, the company announced they had regained compliance with NASDAQ listing requirements, which now greatly reduces risk of reverse split to achieve minimum price level.
Short Squeeze Possible
$SGBX traded nearly 8 million shares premarket on regaining NASDAQ compliance, which is more than double company total stated float. More importantly, the fee to borrow shares to short SGBX were around 117%. at time of this update, which indicates very low inventory of shares to short. Adding together premarket activity and high borrowing fee, and SGBX could have a naked short position, which may present the right environment for potential 'short squeeze'.
With the new White House administration focusing on increased spending for traditional domestic oil & gas development, combined with high short interest in float of just 4 million shares, we have issued a speculative price target of $2.00+ on SGBX.
Ludlow Research issued its initial alert on $SGBX on February 24, 2025 at $0.61 per share.
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THE MATERIAL HEREIN DOES NOT CONSTITUTE AN OFFER OR SOLICITATION IN ANY JURISDICTION WHERE OR TO ANY PERSON TO WHOM IT WOULD BE UNAUTHORIZED OR UNLAWFUL TO DO SO.
This reports contains certain statements that may be deemed “forward-looking” statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
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