Safe & Green Shares Surge 35% After Hours — Here's Why

Safe & Green Holdings Corp. (NASDAQ:SGBX) jumped 34.65% in after-hours trading on Wednesday, reaching $3.07.

Check out the current price of SGBX stock here. 

According to Benzinga Pro data, the stock of the modular solutions company declined 3.8% during Wednesday's regular session, closing at $2.28.

Partnership With OneQode Highlighted

Safe & Green and its subsidiary, Olenox Corp., a unique energy provider, emphasized the importance of their Open Collaborative Framework partnership with OneQode on Tuesday, citing the Amazon (NASDAQ:AMZN) Web Services outage that occurred on Monday, which disrupted websites and apps worldwide.

Michael McLaren, CEO of Safe & Green, said, "It is critical to Olenox that data collection and two-way communication in the field are reliable, providing us with the ability to perform at maximum efficiency with little downtime while also meeting environmental commitments."

Matt Shearing, CEO of OneQode, an Australian infrastructure-as-a-service (IaaS) company, said, “most people don’t realize that much of the technology AWS runs on is 25+ years old.”

See Also: What’s Driving Beyond Meat’s 11% After-Hours Drop?

Drilling Program Details

Olenox announced on Monday that it has begun reviewing drilling sites on current leases.

The vertically integrated energy company aims to complete one drilling project in the fourth quarter of 2025, with an internal goal of producing 1,000 barrels of oil equivalent per day by the end of 2026, according to CEO Michael McLaren.

McLaren also said the company is refocusing its manufacturing efforts on container builds, anticipating "a stellar 2026 for SGBX and its subsidiaries."

Olenox is expanding its U.S. energy footprint through strategic acquisitions and field revitalization, in addition to its planned drilling program.

Stock Performance

Safe & Green Holdings is down 97.36% over the past year and 90.50% over the past six months.

The Texas-based company has traded between $2.03 and $122.88 in the past 52 weeks. The company has a market capitalization of $1.15 million and an average daily trading volume of 3.84 million shares.

Benzinga's Edge Stock Rankings indicate that SGBX has a negative price trend across all time frames. Here is how the stock fares on other parameters.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.