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

Patriot National Bancorp Inc. (NASDAQ:PNBK) was the recipient of a significant increase in short interest in the month of December. As of December 31st, there was short interest totaling 2,309,313 shares, an increase of 37.1% from the December 15th total of 1,683,903 shares. Based on an average daily trading volume, of 479,350 shares, the days-to-cover ratio is currently 4.8 days. Currently, 2.3% of the company’s shares are sold short. Currently, 2.3% of the company’s shares are sold short. Based on an average daily trading volume, of 479,350 shares, the days-to-cover ratio is currently 4.8 days.

Hedge Funds Weigh In On Patriot National Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the company. Blue Sky Capital Consultants Group Inc. raised its holdings in shares of Patriot National Bancorp by 70.8% in the third quarter. Blue Sky Capital Consultants Group Inc. now owns 20,500 shares of the bank’s stock valued at $27,000 after acquiring an additional 8,500 shares in the last quarter. Suncoast Equity Management bought a new stake in shares of Patriot National Bancorp in the 2nd quarter valued at about $28,000. SG Americas Securities LLC purchased a new stake in shares of Patriot National Bancorp in the 4th quarter worth approximately $30,000. Elyxium Wealth LLC bought a new position in shares of Patriot National Bancorp during the second quarter valued at approximately $32,000. Finally, JPMorgan Chase & Co. purchased a new position in Patriot National Bancorp during the second quarter valued at approximately $32,000. Institutional investors own 39.25% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Patriot National Bancorp in a research report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Patriot National Bancorp currently has an average rating of “Sell”.

Patriot National Bancorp Trading Down 1.9%

PNBK stock traded down $0.03 during mid-day trading on Friday, reaching $1.59. The company had a trading volume of 231,604 shares, compared to its average volume of 301,187. The company has a market capitalization of $182.83 million, a PE ratio of -0.59 and a beta of -0.71. The firm has a 50 day moving average of $1.51 and a 200 day moving average of $1.46. Patriot National Bancorp has a 12 month low of $0.90 and a 12 month high of $7.47. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.96 and a quick ratio of 0.94.

Patriot National Bancorp (NASDAQ:PNBK) last announced its quarterly earnings results on Friday, November 14th. The bank reported ($0.03) earnings per share (EPS) for the quarter. Patriot National Bancorp had a negative net margin of 35.17% and a negative return on equity of 37.63%. The firm had revenue of $7.22 million during the quarter.

Patriot National Bancorp Company Profile

Patriot National Bancorp, Inc, through its subsidiary Patriot National Bank, operates as a community-oriented bank headquartered in Fort Lauderdale, Florida. The company offers a comprehensive suite of retail and commercial banking products and services to individuals, small- to mid-sized businesses and institutions. Its core deposit offerings include checking and savings accounts, money market accounts and certificates of deposit, all supported by online and mobile banking platforms.

On the lending side, Patriot National Bank provides commercial real estate and business loans, construction and development financing, residential mortgage lending and consumer installment loans.