Patriot National Bancorp (NASDAQ:PNBK) Shares Pass Above Two Hundred Day Moving Average – Should You Sell?

Patriot National Bancorp Inc. (NASDAQ:PNBK)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.43 and traded as high as $1.83. Patriot National Bancorp shares last traded at $1.67, with a volume of 119,681 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Patriot National Bancorp in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

Patriot National Bancorp Trading Down 8.2%

The firm has a 50-day moving average of $1.42 and a 200 day moving average of $1.44. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $192.03 million, a price-to-earnings ratio of -0.62 and a beta of -0.71.

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

Institutional Trading of Patriot National Bancorp

Several institutional investors have recently modified their holdings of the company. Axxcess Wealth Management LLC bought a new stake in shares of Patriot National Bancorp in the 2nd quarter worth approximately $324,000. Curated Wealth Partners LLC bought a new position in shares of Patriot National Bancorp in the second quarter valued at $1,013,000. Elyxium Wealth LLC bought a new position in shares of Patriot National Bancorp in the second quarter valued at $32,000. Suncoast Equity Management acquired a new stake in shares of Patriot National Bancorp during the 2nd quarter valued at $28,000. Finally, Geode Capital Management LLC boosted its stake in shares of Patriot National Bancorp by 3,772.1% during the 2nd quarter. Geode Capital Management LLC now owns 1,046,216 shares of the bank’s stock worth $1,590,000 after acquiring an additional 1,019,197 shares in the last quarter. Institutional investors and hedge funds own 39.25% of the company’s stock.

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.