BayFirst Financial (NASDAQ:BAFN) Trading Up 1.1% – Should You Buy?

Shares of BayFirst Financial Corp. (NASDAQ:BAFN) shot up 1.1% during mid-day trading on Wednesday . The company traded as high as $6.25 and last traded at $6.24. 25,508 shares traded hands during mid-day trading, an increase of 23% from the average daily volume of 20,762 shares. The stock had previously closed at $6.17.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of BayFirst Financial in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

BayFirst Financial Stock Performance

The stock has a market capitalization of $26.04 million, a P/E ratio of -0.88 and a beta of 0.53. The stock’s 50-day simple moving average is $5.54 and its 200 day simple moving average is $6.31. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.96 and a quick ratio of 0.91.

Institutional Trading of BayFirst Financial

Hedge funds and other institutional investors have recently modified their holdings of the stock. Stifel Financial Corp raised its holdings in BayFirst Financial by 46.5% in the 4th quarter. Stifel Financial Corp now owns 23,200 shares of the company’s stock valued at $182,000 after acquiring an additional 7,369 shares during the period. Tactive Advisors LLC bought a new stake in shares of BayFirst Financial during the first quarter worth approximately $98,000. GSA Capital Partners LLP acquired a new position in shares of BayFirst Financial in the second quarter valued at approximately $572,000. Bank of New York Mellon Corp bought a new position in shares of BayFirst Financial during the second quarter worth approximately $6,217,000. Finally, HBK Sorce Advisory LLC bought a new position in shares of BayFirst Financial during the second quarter worth approximately $1,521,000. Institutional investors 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.