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

Patriot National Bancorp, Inc. (NASDAQ:PNBK - Get Free Report) was the recipient of a large growth in short interest in May. As of May 31st, there was short interest totalling 816,700 shares, a growth of 233.8% from the May 15th total of 244,700 shares. Based on an average trading volume of 766,300 shares, the days-to-cover ratio is presently 1.1 days. Currently, 23.8% of the company's stock are short sold.

Analyst Upgrades and Downgrades

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

Patriot National Bancorp Trading Down 6.0%

Shares of PNBK traded down $0.07 during mid-day trading on Thursday, reaching $1.10. The company had a trading volume of 980,755 shares, compared to its average volume of 464,200. The stock has a market cap of $83.89 million, a price-to-earnings ratio of -0.15 and a beta of -0.48. The firm has a fifty day simple moving average of $3.20 and a 200-day simple moving average of $2.18. Patriot National Bancorp has a fifty-two week low of $0.99 and a fifty-two week high of $7.47. 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 (NASDAQ:PNBK - Get Free Report) last issued its earnings results on Wednesday, May 14th. The bank reported ($0.21) EPS for the quarter. The business 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%.

Insider Buying and Selling

In related news, President Steven Sugarman purchased 7,019,978 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The shares were purchased at an average price of $0.75 per share, for a total transaction of $5,264,983.50. Following the transaction, the president now directly owns 7,019,978 shares of the company's stock, valued at approximately $5,264,983.50. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 11.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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 first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 23,763 shares of the bank's stock, valued at approximately $28,000. 39.25% of the stock is owned by institutional investors.

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.