Patriot National Bancorp Inc. (NASDAQ:PNBK) Short Interest Update

Patriot National Bancorp Inc. (NASDAQ:PNBK) saw a significant growth in short interest in December. As of December 31st, there was short interest totaling 2,309,313 shares, a growth of 37.1% from the December 15th total of 1,683,903 shares. Approximately 2.3% of the company’s shares are short sold. Based on an average trading volume of 479,350 shares, the days-to-cover ratio is presently 4.8 days. Based on an average trading volume of 479,350 shares, the days-to-cover ratio is presently 4.8 days. Approximately 2.3% of the company’s shares are short sold.

Patriot National Bancorp Stock Down 1.9%

Shares of PNBK traded down $0.03 during midday trading on Friday, hitting $1.59. The stock had a trading volume of 231,604 shares, compared to its average volume of 301,187. The company has a 50 day simple moving average of $1.51 and a two-hundred day simple moving average of $1.46. Patriot National Bancorp has a twelve month low of $0.90 and a twelve month high of $7.47. The firm has a market cap of $182.83 million, a price-to-earnings ratio of -0.59 and a beta of -0.71. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.96 and a quick ratio of 0.94.

Patriot National Bancorp (NASDAQ:PNBK) last posted its quarterly earnings data on Friday, November 14th. The bank reported ($0.03) earnings per share for the quarter. Patriot National Bancorp had a negative return on equity of 37.63% and a negative net margin of 35.17%.The firm had revenue of $7.22 million for the quarter.

Institutional Trading of Patriot National Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in PNBK. Axxcess Wealth Management LLC bought a new position in Patriot National Bancorp in the second quarter valued at $324,000. Curated Wealth Partners LLC lifted its position in Patriot National Bancorp by 39.7% during the 3rd quarter. Curated Wealth Partners LLC now owns 931,297 shares of the bank’s stock worth $1,211,000 after buying an additional 264,630 shares in the last quarter. Rinkey Investments acquired a new position in shares of Patriot National Bancorp during the 2nd quarter worth about $231,000. Elyxium Wealth LLC grew its holdings in shares of Patriot National Bancorp by 458.0% in the 3rd quarter. Elyxium Wealth LLC now owns 115,840 shares of the bank’s stock valued at $151,000 after acquiring an additional 95,080 shares in the last quarter. Finally, Blue Sky Capital Consultants Group Inc. grew its holdings in shares of Patriot National Bancorp by 70.8% in the 3rd quarter. Blue Sky Capital Consultants Group Inc. now owns 20,500 shares of the bank’s stock valued at $27,000 after acquiring an additional 8,500 shares in the last quarter. 39.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Patriot National Bancorp in a research report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Patriot National Bancorp presently has a consensus rating of “Sell”.

About Patriot National Bancorp

Patriot National Bancorp, Inc, through its subsidiary Patriot National Bank, operates as a community-oriented bank headquartered in Fort Lauderdale, Florida. The company offers a comprehensive suite of retail and commercial banking products and services to individuals, small- to mid-sized businesses and institutions. Its core deposit offerings include checking and savings accounts, money market accounts and certificates of deposit, all supported by online and mobile banking platforms.

On the lending side, Patriot National Bank provides commercial real estate and business loans, construction and development financing, residential mortgage lending and consumer installment loans.