BayFirst Financial (NASDAQ:BAFN) Shares Break Below Two Hundred Day Moving Average – Here’s Why

BayFirst Financial Corp. (NASDAQ:BAFN)’s stock price passed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $6.55 and traded as low as $6.02. BayFirst Financial shares last traded at $6.02, with a volume of 39,504 shares changing hands.

Analyst Upgrades and Downgrades

BAFN has been the subject of several research reports. Wall Street Zen upgraded BayFirst Financial to a “sell” rating in a report on Saturday, September 26th. Weiss Ratings downgraded BayFirst Financial from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, August 20th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

BayFirst Financial Trading Down 8.4%

The stock has a fifty day moving average of $7.20 and a two-hundred day moving average of $6.55.

BayFirst Financial (NASDAQ:BAFN) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($8.05) earnings per share (EPS) for the quarter. The firm had revenue of $2.61 million during the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in BayFirst Financial stock. BlackRock Inc. acquired a new position in shares of BayFirst Financial Corp. (NASDAQ:BAFN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 52,828 shares of the company’s stock, valued at approximately $264,000. BlackRock Inc. owned approximately 1.29% of BayFirst Financial as of its most recent SEC filing. 16.88% of the stock is owned by institutional investors.

BayFirst Financial Company Profile

BayFirst Financial Corp. is a bank holding company headquartered in St. Petersburg, Florida. Its primary subsidiary, BayFirst National Bank, provides banking and financial services to individuals, families, small businesses and commercial customers.

The bank offers deposit accounts, commercial and consumer lending, residential mortgage loans, business banking services and other related financial products. Its lending activities also include Small Business Administration financing and mortgage lending through specialized banking and lending teams.

BayFirst National Bank primarily serves communities in the Tampa Bay region and other areas of Florida, while its mortgage and specialty lending operations may serve customers in additional markets.