Patriot National Bancorp (NASDAQ:PNBK) Share Price Passes Below 200 Day Moving Average - Here's What Happened

Patriot National Bancorp Inc. (NASDAQ:PNBK - Get Free Report)'s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.11 and traded as low as $1.08. Patriot National Bancorp shares last traded at $1.21, with a volume of 1,028,571 shares changing hands.

Analyst Upgrades and Downgrades

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

Patriot National Bancorp Trading Down 2.1%

The company has a quick ratio of 0.92, a current ratio of 0.94 and a debt-to-equity ratio of 0.31. The firm has a market cap of $104.48 million, a price-to-earnings ratio of -0.13 and a beta of -0.48. The business has a 50 day moving average price of $3.04 and a 200-day moving average price of $2.09.

Patriot National Bancorp (NASDAQ:PNBK - Get Free Report) last posted its earnings results on Wednesday, May 14th. The bank reported ($0.21) earnings per share (EPS) for the quarter. Patriot National Bancorp had a negative net margin of 70.89% and a negative return on equity of 149.65%. The company had revenue of $6.68 million during the quarter.

Institutional Investors Weigh In On Patriot National Bancorp

An institutional investor recently bought a new position in Patriot National Bancorp stock. Angel Oak Capital Advisors LLC acquired a new stake in shares of Patriot National Bancorp Inc. (NASDAQ:PNBK - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,333,386 shares of the bank's stock, valued at approximately $3,867,000. Patriot National Bancorp makes up about 5.2% of Angel Oak Capital Advisors LLC's investment portfolio, making the stock its 3rd biggest position. Angel Oak Capital Advisors LLC owned 4.52% of Patriot National Bancorp at the end of the most recent quarter. 39.25% of the stock is currently 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.