BayFirst Financial Corp. (NASDAQ:BAFN) Sees Significant Increase in Short Interest

BayFirst Financial Corp. (NASDAQ:BAFN) was the target of a significant increase in short interest in March. As of March 13th, there was short interest totaling 16,011 shares, an increase of 124.3% from the February 26th total of 7,137 shares. Based on an average daily trading volume, of 12,671 shares, the days-to-cover ratio is currently 1.3 days. Currently, 0.5% of the shares of the stock are sold short.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of BayFirst Financial in a research note on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, BayFirst Financial currently has an average rating of “Sell”.

BayFirst Financial Trading Up 3.2%

Shares of BAFN stock opened at $6.20 on Thursday. The firm has a 50-day moving average price of $6.49 and a 200 day moving average price of $7.79. BayFirst Financial has a twelve month low of $4.80 and a twelve month high of $19.00. The company has a market capitalization of $25.48 million, a price-to-earnings ratio of -1.05 and a beta of 0.39. The company has a current ratio of 1.01, a quick ratio of 0.88 and a debt-to-equity ratio of 0.78.

BayFirst Financial (NASDAQ:BAFN) last released its quarterly earnings results on Thursday, January 29th. The company reported ($0.69) earnings per share (EPS) for the quarter. The firm had revenue of $11.05 million for the quarter. BayFirst Financial had a negative return on equity of 26.38% and a negative net margin of 20.99%.

Institutional Trading of BayFirst Financial

Hedge funds have recently bought and sold shares of the company. Stifel Financial Corp grew its stake in BayFirst Financial by 46.5% in the 4th quarter. Stifel Financial Corp now owns 23,200 shares of the company’s stock worth $182,000 after acquiring an additional 7,369 shares during the period. Salzhauer Michael lifted its stake in shares of BayFirst Financial by 62.3% during the 3rd quarter. Salzhauer Michael now owns 68,876 shares of the company’s stock worth $720,000 after purchasing an additional 26,445 shares during the period. Finally, Banc Funds Co. LLC boosted its holdings in shares of BayFirst Financial by 35.5% during the third quarter. Banc Funds Co. LLC now owns 169,772 shares of the company’s stock worth $1,776,000 after purchasing an additional 44,500 shares during the last quarter. Institutional investors and hedge funds own 16.88% of the company’s stock.

BayFirst Financial Company Profile

BayFirst Financial Corp (NASDAQ: BAFN) is the bank holding company for BayFirst National Bank, which operates as a Florida-chartered community bank. The company provides a range of commercial banking services, catering to both business and individual customers in the Tampa Bay region. BayFirst Financial emphasizes relationship-driven banking, offering personalized solutions tailored to the needs of local clients.

The company’s product suite includes deposit accounts such as checking, savings, money market accounts and certificates of deposit.