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

BayFirst Financial Corp. (NASDAQ:BAFN) was the recipient of a large increase in short interest in the month of May. As of May 15th, there was short interest totaling 258,397 shares, an increase of 233.4% from the April 30th total of 77,504 shares. Based on an average trading volume of 131,757 shares, the days-to-cover ratio is currently 2.0 days. Approximately 7.7% of the company’s shares are sold short.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d)” rating on shares of BayFirst Financial in a research report on Friday, March 27th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.

BayFirst Financial Trading Up 1.1%

Shares of NASDAQ BAFN opened at $6.20 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.96. BayFirst Financial has a 52-week low of $4.80 and a 52-week high of $16.35. The firm has a 50 day moving average price of $6.86 and a two-hundred day moving average price of $7.09. The stock has a market cap of $25.48 million, a P/E ratio of -0.86 and a beta of 0.63.

BayFirst Financial (NASDAQ:BAFN) last announced its quarterly earnings results on Thursday, April 30th. The company reported ($1.48) earnings per share (EPS) for the quarter. BayFirst Financial had a negative net margin of 29.20% and a negative return on equity of 37.66%. The business had revenue of $10.33 million during the quarter.

Institutional Investors Weigh In On BayFirst Financial

Large investors have recently modified their holdings of the company. Banc Funds Co. LLC increased its position 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 buying an additional 44,500 shares during the period. Stifel Financial Corp increased its position in shares of BayFirst Financial by 46.5% during the fourth quarter. Stifel Financial Corp now owns 23,200 shares of the company’s stock worth $182,000 after buying an additional 7,369 shares during the period. Finally, Tactive Advisors LLC acquired a new stake in shares of BayFirst Financial during the first quarter worth $98,000. 16.88% of the stock is currently owned by institutional investors and hedge funds.

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.