Patriot National Bancorp, Inc. (NASDAQ:PNBK) Sees Significant Drop in Short Interest

Patriot National Bancorp, Inc. (NASDAQ:PNBK) saw a large decline in short interest in October. As of October 15th, there was short interest totalling 17,600 shares, a decline of 18.1% from the September 30th total of 21,500 shares. Approximately 0.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 45,300 shares, the days-to-cover ratio is presently 0.4 days.

Patriot National Bancorp Stock Performance

NASDAQ PNBK opened at $1.57 on Monday. The firm’s 50 day simple moving average is $1.75 and its 200 day simple moving average is $2.19. The firm has a market capitalization of $6.24 million, a price-to-earnings ratio of -1.67 and a beta of 0.28. The company has a current ratio of 1.07, a quick ratio of 1.05 and a debt-to-equity ratio of 4.32. Patriot National Bancorp has a 1 year low of $1.39 and a 1 year high of $6.50.

Patriot National Bancorp (NASDAQ:PNBK) last issued its earnings results on Friday, August 9th. The bank reported ($0.77) earnings per share for the quarter. Patriot National Bancorp had a negative net margin of 9.48% and a negative return on equity of 14.82%. The business had revenue of $7.09 million during the quarter.

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.