BayFirst Financial (NASDAQ:BAFN) Trading 1.9% Higher – Here’s What Happened

Shares of BayFirst Financial Corp. (NASDAQ:BAFN) shot up 1.9% during mid-day trading on Tuesday . The stock traded as high as $5.87 and last traded at $5.50. Approximately 5,018 shares changed hands during trading, a decline of 73% from the average daily volume of 18,384 shares. The stock had previously closed at $5.40.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d)” rating on shares of BayFirst Financial in a research note on Wednesday, June 24th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, BayFirst Financial has a consensus rating of “Sell”.

BayFirst Financial Price Performance

The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 0.11. The firm has a fifty day moving average price of $5.70 and a two-hundred day moving average price of $6.46. The stock has a market capitalization of $22.61 million, a P/E ratio of -0.76 and a beta of 0.57.

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. The firm had revenue of $10.33 million during the quarter. BayFirst Financial had a negative return on equity of 37.66% and a negative net margin of 29.20%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in BayFirst Financial stock. Tactive Advisors LLC bought a new position in BayFirst Financial Corp. (NASDAQ:BAFN) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,460 shares of the company’s stock, valued at approximately $98,000. Tactive Advisors LLC owned approximately 0.38% of BayFirst Financial as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 16.88% of the company’s stock.

About BayFirst Financial

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.