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

Patriot National Bancorp, Inc. (NASDAQ:PNBK - Get Free Report) was the recipient of a large increase in short interest during the month of May. As of May 15th, there was short interest totalling 244,700 shares, an increase of 132.4% from the April 30th total of 105,300 shares. Based on an average trading volume of 546,200 shares, the days-to-cover ratio is currently 0.4 days. Currently, 7.1% of the shares of the stock are sold short.

Insider Activity

In other Patriot National Bancorp news, President Steven Sugarman acquired 7,019,978 shares of the business's stock in a transaction dated Thursday, March 20th. The stock was bought at an average price of $0.75 per share, with a total value of $5,264,983.50. Following the completion of the acquisition, the president now owns 7,019,978 shares of the company's stock, valued at $5,264,983.50. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 13.60% of the company's stock.

Hedge Funds Weigh In On Patriot National Bancorp

An institutional investor recently bought a new position in Patriot National Bancorp stock. Virtu Financial LLC purchased a new position in Patriot National Bancorp, Inc. (NASDAQ:PNBK - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 23,763 shares of the bank's stock, valued at approximately $28,000. 39.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised Patriot National Bancorp from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd.

Patriot National Bancorp Trading Down 12.7%

PNBK stock traded down $0.21 during midday trading on Friday, hitting $1.44. The company had a trading volume of 1,275,302 shares, compared to its average volume of 421,345. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 6.83. Patriot National Bancorp has a 52 week low of $0.99 and a 52 week high of $7.47. The stock's 50 day moving average price is $3.21 and its 200 day moving average price is $2.21. The stock has a market cap of $109.81 million, a price-to-earnings ratio of -0.19 and a beta of -0.22.

Patriot National Bancorp (NASDAQ:PNBK - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The bank reported ($0.21) earnings per share for the quarter. The company had revenue of $6.68 million during the quarter. Patriot National Bancorp had a negative net margin of 45.58% and a negative return on equity of 81.22%.

Patriot National Bancorp Company Profile

Patriot National Bancorp, Inc operates as the holding company for Patriot Bank, N.A. that provides community banking services to individuals, small and medium-sized businesses, and professionals. The company accepts consumer and commercial deposit accounts, such as checking, interest-bearing negotiable order of withdrawal, money market, time certificates of deposit, savings, prepaid deposit, on-line national money market, individual retirement accounts, and health savings accounts, as well as certificate of deposit account registry service.