NewtekOne (NASDAQ:NEWT) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

by · The Markets Daily

NewtekOne, Inc. (NASDAQ:NEWTGet Free Report)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.89 and traded as high as $12.43. NewtekOne shares last traded at $12.13, with a volume of 193,523 shares.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NEWT. Piper Sandler boosted their price objective on NewtekOne from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Monday, February 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NewtekOne in a research report on Thursday, January 22nd. Wall Street Zen lowered NewtekOne from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Finally, Keefe, Bruyette & Woods upped their target price on NewtekOne from $13.00 to $14.00 and gave the company a “market perform” rating in a research note on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $15.00.

Get Our Latest Stock Analysis on NewtekOne

NewtekOne Stock Down 2.1%

The stock has a market capitalization of $338.88 million, a price-to-earnings ratio of 5.47 and a beta of 1.25. The firm has a 50 day simple moving average of $13.09 and a 200-day simple moving average of $11.89. The company has a debt-to-equity ratio of 6.41, a current ratio of 0.71 and a quick ratio of 0.67.

NewtekOne (NASDAQ:NEWTGet Free Report) last posted its earnings results on Thursday, January 29th. The business services provider reported $0.65 earnings per share for the quarter, hitting the consensus estimate of $0.65. The business had revenue of $120.83 million for the quarter, compared to analyst estimates of $80.01 million. NewtekOne had a net margin of 15.51% and a return on equity of 18.83%. On average, sell-side analysts forecast that NewtekOne, Inc. will post 1.93 EPS for the current fiscal year.

Insider Activity

In related news, insider Michael Adam Schwartz acquired 2,247 shares of the firm’s stock in a transaction on Wednesday, January 14th. The shares were purchased at an average price of $13.91 per share, with a total value of $31,255.77. Following the acquisition, the insider directly owned 49,713 shares in the company, valued at $691,507.83. The trade was a 4.73% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CEO Barry Sloane acquired 3,595 shares of the stock in a transaction on Wednesday, January 14th. The stock was bought at an average price of $13.91 per share, with a total value of $50,006.45. Following the transaction, the chief executive officer directly owned 1,194,180 shares in the company, valued at approximately $16,611,043.80. This represents a 0.30% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders have purchased 9,156 shares of company stock worth $126,435. 6.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NewtekOne

Several large investors have recently made changes to their positions in the company. Advisory Services Network LLC acquired a new stake in NewtekOne in the third quarter worth about $46,000. Quantbot Technologies LP acquired a new position in NewtekOne in the second quarter valued at approximately $107,000. Wealth Enhancement Advisory Services LLC bought a new position in NewtekOne in the third quarter valued at approximately $150,000. Cerity Partners LLC grew its holdings in NewtekOne by 18.0% during the 4th quarter. Cerity Partners LLC now owns 13,714 shares of the business services provider’s stock worth $156,000 after acquiring an additional 2,095 shares during the period. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of NewtekOne during the 3rd quarter valued at $191,000. Institutional investors and hedge funds own 38.35% of the company’s stock.

About NewtekOne

(Get Free Report)

NewtekOne, Inc (NASDAQ: NEWT) is a publicly traded business development company that specializes in providing financial and business services to small and medium‐sized enterprises across the United States. Operating under the trade name The Newtek Small Business Finance, the company offers a diversified array of lending solutions designed to meet the working capital, equipment acquisition and growth needs of its clients.

The company’s core lending offerings include Small Business Administration (SBA) 7(a) loans, equipment financing, lines of credit and commercial real estate financing.

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