Bogota Financial Corporation (NASDAQ:BSBK) Sees Large Increase in Short Interest

Key Points

• Short interest up 45% — short interest rose to 9,258 shares as of March 31 (about 0.1% of shares), with a days-to-cover ratio of 0.8, signaling a notable but still small short position.
• Renaissance Technologies increased its stake by 1,700 shares to 30,551 shares (roughly 0.24% ownership), and institutional investors hold about 11.63% of the stock.
• Weiss Ratings reiterated a Hold (C-) on BSBK; the stock trades near $8.50 with a market cap of about $110M, a P/E of 50.18, and last quarter EPS of $0.05 on $4.51M revenue.

Bogota Financial Corporation (NASDAQ:BSBK - Get Free Report) was the recipient of a significant growth in short interest in March. As of March 31st, there was short interest totaling 9,258 shares, a growth of 45.0% from the March 15th total of 6,384 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average trading volume of 11,473 shares, the days-to-cover ratio is presently 0.8 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a "hold (c-)" rating on shares of Bogota Financial in a research report on Friday, March 27th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, Bogota Financial has a consensus rating of "Hold".

Institutional Inflows and Outflows

An institutional investor recently raised its position in Bogota Financial stock. Renaissance Technologies LLC grew its position in Bogota Financial Corporation (NASDAQ:BSBK - Free Report) by 5.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,551 shares of the company's stock after buying an additional 1,700 shares during the quarter. Renaissance Technologies LLC owned 0.24% of Bogota Financial worth $258,000 at the end of the most recent quarter. 11.63% of the stock is currently owned by hedge funds and other institutional investors.

Bogota Financial Trading Down 0.3%

NASDAQ:BSBK opened at $8.53 on Tuesday. The stock has a fifty day moving average price of $8.46 and a two-hundred day moving average price of $8.52. The stock has a market capitalization of $110.22 million, a price-to-earnings ratio of 50.18 and a beta of 0.17. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.02 and a current ratio of 1.02. Bogota Financial has a 1 year low of $6.72 and a 1 year high of $9.50.

Bogota Financial (NASDAQ:BSBK - Get Free Report) last released its quarterly earnings data on Friday, February 13th. The company reported $0.05 earnings per share (EPS) for the quarter. The firm had revenue of $4.51 million during the quarter. Bogota Financial had a return on equity of 1.50% and a net margin of 4.67%.

Bogota Financial Company Profile

Bogota Financial Corp NASDAQ: BSBK is the bank holding company for Bogota Savings Bank, a New Jersey-chartered savings institution headquartered in Bogota, New Jersey. As a community-focused financial services provider, the company offers a range of deposit, lending and cash management solutions tailored to individuals, small businesses and commercial clients in Bergen County and surrounding areas.

The company's deposit portfolio includes checking and savings accounts, money market deposit accounts, certificates of deposit and individual retirement accounts.

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