Short Interest in Patriot National Bancorp, Inc. (NASDAQ:PNBK) Increases By 515.3%

Patriot National Bancorp, Inc. (NASDAQ:PNBK) was the target of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 108,300 shares, an increase of 515.3% from the October 15th total of 17,600 shares. Approximately 5.6% of the company’s stock are sold short. Based on an average daily trading volume, of 48,000 shares, the days-to-cover ratio is currently 2.3 days.

Patriot National Bancorp Stock Performance

Shares of Patriot National Bancorp stock traded down $0.04 during midday trading on Tuesday, hitting $1.81. The company had a trading volume of 3,316 shares, compared to its average volume of 19,653. The stock has a market cap of $7.20 million, a price-to-earnings ratio of -1.18 and a beta of 0.30. The company has a quick ratio of 1.05, a current ratio of 1.07 and a debt-to-equity ratio of 4.32. The company has a fifty day simple moving average of $1.75 and a 200 day simple moving average of $2.03. Patriot National Bancorp has a 12-month low of $1.39 and a 12-month high of $5.90.

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

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.