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

Patriot National Bancorp Inc. (NASDAQ:PNBK) was the target of a significant growth in short interest in January. As of January 30th, there was short interest totaling 2,305,817 shares, a growth of 28.8% from the January 15th total of 1,789,950 shares. Based on an average daily trading volume, of 150,813 shares, the days-to-cover ratio is currently 15.3 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 150,813 shares, the days-to-cover ratio is currently 15.3 days.

Patriot National Bancorp Price Performance

Shares of NASDAQ PNBK opened at $1.40 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.96 and a quick ratio of 0.94. The company has a market cap of $160.99 million, a price-to-earnings ratio of -0.52 and a beta of -0.71. The stock’s 50-day moving average is $1.62 and its two-hundred day moving average is $1.47. Patriot National Bancorp has a 1-year low of $0.90 and a 1-year high of $7.47.

Wall Street Analyst Weigh In

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 MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Patriot National Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the company. Axxcess Wealth Management LLC acquired a new position in shares of Patriot National Bancorp during the 2nd quarter worth about $324,000. Curated Wealth Partners LLC lifted its stake in Patriot National Bancorp by 39.7% during the third quarter. Curated Wealth Partners LLC now owns 931,297 shares of the bank’s stock worth $1,211,000 after purchasing an additional 264,630 shares during the last quarter. Rinkey Investments purchased a new stake in Patriot National Bancorp during the second quarter worth approximately $231,000. SG Americas Securities LLC acquired a new position in Patriot National Bancorp in the fourth quarter valued at approximately $30,000. Finally, Elyxium Wealth LLC increased its stake in Patriot National Bancorp by 458.0% in the third quarter. Elyxium Wealth LLC now owns 115,840 shares of the bank’s stock valued at $151,000 after purchasing an additional 95,080 shares during the last quarter. 39.25% of the stock is currently owned by institutional investors and hedge funds.

About Patriot National Bancorp

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.