Patriot National Bancorp (NASDAQ:PNBK) Stock Price Crosses Above 200 Day Moving Average – Should You Sell?

Patriot National Bancorp, Inc. (NASDAQ:PNBK)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.07 and traded as high as $6.20. Patriot National Bancorp shares last traded at $5.95, with a volume of 306,915 shares trading hands.

Patriot National Bancorp Stock Up 2.4%

The firm has a market capitalization of $453.75 million, a P/E ratio of -0.80 and a beta of -0.22. The company has a debt-to-equity ratio of 6.83, a current ratio of 0.99 and a quick ratio of 0.97. The firm’s fifty day moving average price is $2.78 and its 200-day moving average price is $2.10.

Patriot National Bancorp (NASDAQ:PNBK) last posted its quarterly earnings results on Wednesday, May 14th. The bank reported ($0.21) earnings per share (EPS) for the quarter. The business had revenue of $6.68 million during the quarter. Patriot National Bancorp had a negative return on equity of 81.22% and a negative net margin of 45.58%.

Insiders Place Their Bets

In other Patriot National Bancorp news, President Steven Sugarman purchased 7,019,978 shares of the firm’s stock in a transaction on Thursday, March 20th. The shares were purchased at an average price of $0.75 per share, for a total transaction of $5,264,983.50. Following the completion of the transaction, the president now owns 7,019,978 shares in the company, valued at $5,264,983.50. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 13.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Patriot National Bancorp

A hedge fund recently bought a new stake in Patriot National Bancorp stock. Virtu Financial LLC acquired a new position in shares of Patriot National Bancorp, Inc. (NASDAQ:PNBK) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 23,763 shares of the bank’s stock, valued at approximately $28,000. 39.25% of the stock is owned by institutional investors.

About Patriot National Bancorp

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.