Short Interest in Blue Foundry Bancorp (NASDAQ:BLFY) Rises By 35.1%

Blue Foundry Bancorp (NASDAQ:BLFY) saw a large growth in short interest during the month of December. As of December 31st, there was short interest totaling 467,164 shares, a growth of 35.1% from the December 15th total of 345,698 shares. Based on an average trading volume of 286,751 shares, the short-interest ratio is presently 1.6 days. Currently, 2.4% of the company’s stock are sold short. Currently, 2.4% of the company’s stock are sold short. Based on an average trading volume of 286,751 shares, the short-interest ratio is presently 1.6 days.

Analyst Upgrades and Downgrades

BLFY has been the topic of several analyst reports. Wall Street Zen raised Blue Foundry Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, November 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Blue Foundry Bancorp in a research note on Monday, December 29th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Blue Foundry Bancorp has a consensus rating of “Reduce” and a consensus price target of $10.00.

Blue Foundry Bancorp Stock Performance

Shares of NASDAQ:BLFY traded down $0.17 during mid-day trading on Friday, reaching $12.75. The company had a trading volume of 495,768 shares, compared to its average volume of 348,170. Blue Foundry Bancorp has a one year low of $7.61 and a one year high of $13.13. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.96. The company’s 50-day moving average price is $11.47 and its 200-day moving average price is $9.87. The firm has a market cap of $264.69 million, a price-to-earnings ratio of -27.72 and a beta of 0.55.

Blue Foundry Bancorp (NASDAQ:BLFY) last released its earnings results on Wednesday, October 29th. The company reported ($0.10) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.10). Blue Foundry Bancorp had a negative return on equity of 2.84% and a negative net margin of 9.82%.The business had revenue of $12.61 million during the quarter, compared to the consensus estimate of $12.35 million. As a group, equities research analysts anticipate that Blue Foundry Bancorp will post -0.47 EPS for the current fiscal year.

Hedge Funds Weigh In On Blue Foundry Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Essex Financial Services Inc. raised its position in shares of Blue Foundry Bancorp by 5.8% in the second quarter. Essex Financial Services Inc. now owns 659,823 shares of the company’s stock valued at $6,315,000 after purchasing an additional 35,998 shares during the period. Geode Capital Management LLC grew its stake in Blue Foundry Bancorp by 0.4% in the 2nd quarter. Geode Capital Management LLC now owns 431,677 shares of the company’s stock valued at $4,132,000 after buying an additional 1,780 shares in the last quarter. Mangrove Partners IM LLC raised its holdings in Blue Foundry Bancorp by 5.5% during the 3rd quarter. Mangrove Partners IM LLC now owns 194,201 shares of the company’s stock valued at $1,765,000 after acquiring an additional 10,138 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in Blue Foundry Bancorp during the 2nd quarter valued at $1,290,000. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Blue Foundry Bancorp during the second quarter worth $654,000. Institutional investors own 56.52% of the company’s stock.

About Blue Foundry Bancorp

Blue Foundry Bancorp, Inc (NASDAQ: BLFY) is a bank holding company headquartered in Paramus, New Jersey, serving the Greater New York metropolitan area. Through its wholly owned subsidiary, Blue Foundry Bank, the company offers a full suite of deposit products, including personal and business checking and savings accounts, certificates of deposit, and a robust online and mobile banking platform.

In addition to deposit accounts, Blue Foundry Bancorp provides a range of lending solutions designed for both individual and commercial clients.