Broadway Financial Co. (NASDAQ:BYFC) Sees Large Growth in Short Interest

Broadway Financial Co. (NASDAQ:BYFC) saw a significant growth in short interest in the month of August. As of August 15th, there was short interest totalling 88,800 shares, a growth of 7.0% from the July 31st total of 83,000 shares. Based on an average daily volume of 41,000 shares, the days-to-cover ratio is currently 2.2 days.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of Broadway Financial in a research report on Saturday. They issued a “sell” rating on the stock.

Broadway Financial Price Performance

Shares of BYFC opened at $0.89 on Friday. Broadway Financial has a fifty-two week low of $0.83 and a fifty-two week high of $1.42. The firm has a market capitalization of $66.38 million, a PE ratio of 14.91 and a beta of 0.76. The company’s 50-day moving average is $0.97 and its 200-day moving average is $1.03. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.13 and a quick ratio of 0.02.

Institutional Trading of Broadway Financial

Hedge funds and other institutional investors have recently bought and sold shares of the business. Virtu Financial LLC acquired a new stake in Broadway Financial in the 1st quarter worth about $37,000. Wittenberg Investment Management Inc. acquired a new stake in Broadway Financial in the 1st quarter worth about $63,000. Jane Street Group LLC acquired a new stake in Broadway Financial in the 2nd quarter worth about $64,000. Susquehanna International Group LLP acquired a new stake in Broadway Financial in the 4th quarter worth about $62,000. Finally, Salzhauer Michael acquired a new stake in Broadway Financial in the 1st quarter worth about $79,000. Institutional investors and hedge funds own 12.79% of the company’s stock.

Broadway Financial Company Profile

Broadway Financial Corporation operates as the holding company for City First Bank, National Association that provides various banking products and services in the United States. It accepts various deposit accounts, including savings accounts, checking accounts, interest checking accounts, money market accounts, and fixed-term certificates of deposit.