Carver Bancorp, Inc. (NASDAQ:CARV) Sees Large Drop in Short Interest

Carver Bancorp, Inc. (NASDAQ:CARV) was the target of a large decrease in short interest in March. As of March 31st, there was short interest totalling 7,600 shares, a decrease of 14.6% from the March 15th total of 8,900 shares. Based on an average daily volume of 10,300 shares, the days-to-cover ratio is presently 0.7 days. Approximately 0.2% of the shares of the company are short sold.

Carver Bancorp Stock Performance

Shares of CARV stock opened at $1.37 on Monday. The stock has a market cap of $6.98 million, a PE ratio of -0.71 and a beta of 1.11. Carver Bancorp has a 52-week low of $1.30 and a 52-week high of $2.39. The business has a 50-day simple moving average of $1.51 and a 200-day simple moving average of $1.68. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 3.63.

Carver Bancorp (NASDAQ:CARV) last released its quarterly earnings data on Thursday, February 13th. The savings and loans company reported ($1.09) earnings per share for the quarter. Carver Bancorp had a negative net margin of 24.99% and a negative return on equity of 59.15%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Carver Bancorp stock. Renaissance Technologies LLC grew its position in Carver Bancorp, Inc. (NASDAQ:CARV) by 12.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 53,600 shares of the savings and loans company’s stock after acquiring an additional 6,000 shares during the quarter. Renaissance Technologies LLC owned about 1.05% of Carver Bancorp worth $99,000 as of its most recent SEC filing. 18.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Carver Bancorp in a research report on Friday. They set a “sell” rating for the company.

About Carver Bancorp

Carver Bancorp, Inc operates as the holding company for Carver Federal Savings Bank that provides consumer and commercial banking services for consumers, businesses, non-profit organizations, and governmental and quasi-governmental agencies primarily in New York. It accepts various deposit products, including demand, savings, and time deposits; passbook and statement accounts, and certificates of deposit; and individual retirement accounts.