Patriot National Inc. (PN) Sees Unusually-High Trading Volume
Patriot National Inc. (NYSE:PN) shares saw unusually-high trading volume on Monday . Approximately 624,727 shares changed hands during trading, an increase of 305% from the previous session’s volume of 154,124 shares.The stock last traded at $9.55 and had previously closed at $7.89.
PN has been the topic of a number of recent analyst reports. Zacks Investment Research raised Patriot National from a “sell” rating to a “hold” rating in a research report on Thursday, July 14th. Compass Point lowered Patriot National from a “buy” rating to a “neutral” rating and cut their target price for the stock from $13.00 to $10.00 in a research report on Friday, May 13th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $10.00.
The firm’s 50-day moving average is $8.00 and its 200-day moving average is $7.29. The firm has a market cap of $253.02 million and a PE ratio of 89.81.
Patriot National (NYSE:PN) last released its quarterly earnings results on Thursday, May 12th. The company reported $0.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.23 by $0.02. The company earned $64.60 million during the quarter, compared to analysts’ expectations of $62.35 million. On average, equities research analysts predict that Patriot National Inc. will post $0.97 EPS for the current fiscal year.
Patriot National, Inc is an independent national provider of technology-enabled outsourcing solutions that help insurance carriers, employers and other clients mitigate risk and comply with complex regulations. It offers a range of end-to-end insurance related and specialty services. The Company principally offers approximately two types of services: front-end services, such as brokerage, underwriting and policyholder services, and back-end services, such as claims adjudication and administration.
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