Patriot National Bancorp (NASDAQ:PNBK) Share Price Passes Above 200-Day Moving Average - Time to Sell?

Shares of Patriot National Bancorp, Inc. (NASDAQ:PNBK - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.07 and traded as high as $6.20. Patriot National Bancorp shares last traded at $5.95, with a volume of 306,915 shares.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Patriot National Bancorp from a "sell" rating to a "hold" rating in a report on Thursday.

Patriot National Bancorp Stock Down 8.9%

The firm has a market cap of $411.80 million, a PE ratio of -0.73 and a beta of -0.22. The company has a 50-day simple moving average of $3.06 and a 200-day simple moving average of $2.19. The company has a debt-to-equity ratio of 6.83, a current ratio of 0.99 and a quick ratio of 0.97.

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

Insider Transactions at Patriot National Bancorp

In related news, President Steven Sugarman purchased 7,019,978 shares of Patriot National Bancorp stock in a transaction that occurred on Thursday, March 20th. The shares were bought at an average price of $0.75 per share, with a total value of $5,264,983.50. Following the purchase, the president now directly owns 7,019,978 shares of the company's stock, valued at approximately $5,264,983.50. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 13.60% of the company's stock.

Institutional Investors Weigh In On Patriot National Bancorp

A hedge fund recently bought a new stake in Patriot National Bancorp stock. Angel Oak Capital Advisors LLC purchased a new stake in shares of Patriot National Bancorp, Inc. (NASDAQ:PNBK - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 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 portfolio, making the stock its 3rd largest position. Angel Oak Capital Advisors LLC owned about 4.52% of Patriot National Bancorp at the end of the most recent quarter. Hedge funds and other institutional investors own 39.25% of the company's stock.

About Patriot National Bancorp

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.