Patriot National Bancorp (NASDAQ:PNBK) Stock Price Passes Below Two Hundred Day Moving Average – Here’s Why

Patriot National Bancorp Inc. (NASDAQ:PNBK) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $2.04 and traded as low as $1.20. Patriot National Bancorp shares last traded at $1.23, with a volume of 506,690 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Patriot National Bancorp in a report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Patriot National Bancorp presently has an average rating of “Sell”.

Patriot National Bancorp Stock Performance

The stock has a market capitalization of $117.82 million, a P/E ratio of -0.13 and a beta of -0.42. The stock has a 50 day moving average of $1.40 and a 200 day moving average of $2.04. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.93 and a current ratio of 0.95.

Patriot National Bancorp (NASDAQ:PNBK) last issued its quarterly earnings data on Thursday, August 14th. The bank reported ($0.06) EPS for the quarter. The company had revenue of $6.22 million for the quarter. Patriot National Bancorp had a negative return on equity of 132.38% and a negative net margin of 76.35%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Blue Sky Capital Consultants Group Inc. boosted its position in Patriot National Bancorp by 70.8% during the 3rd quarter. Blue Sky Capital Consultants Group Inc. now owns 20,500 shares of the bank’s stock worth $27,000 after acquiring an additional 8,500 shares during the period. Falcon Wealth Planning acquired a new position in Patriot National Bancorp during the 3rd quarter worth $136,000. Curated Wealth Partners LLC boosted its position in Patriot National Bancorp by 39.7% during the 3rd quarter. Curated Wealth Partners LLC now owns 931,297 shares of the bank’s stock worth $1,211,000 after acquiring an additional 264,630 shares during the period. Bank of America Corp DE boosted its position in Patriot National Bancorp by 56,671,895.7% during the 2nd quarter. Bank of America Corp DE now owns 13,034,559 shares of the bank’s stock worth $19,813,000 after acquiring an additional 13,034,536 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Patriot National Bancorp during the 2nd quarter worth $36,000. Institutional investors and hedge funds own 39.25% of the company’s stock.

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.