NewtekOne (NASDAQ:NEWT) Stock Price Passes Above 200 Day Moving Average – Here’s What Happened

Shares of NewtekOne, Inc. (NASDAQ:NEWT) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $13.09 and traded as high as $14.09. NewtekOne shares last traded at $13.59, with a volume of 177,021 shares.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. B. Riley lowered NewtekOne from a “buy” rating to a “neutral” rating and lowered their price target for the company from $16.00 to $13.00 in a report on Wednesday, September 4th. Piper Sandler raised their price target on NewtekOne from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $15.00 target price (up from $13.00) on shares of NewtekOne in a report on Friday, November 8th.

NewtekOne Stock Down 3.6 %

The stock has a market cap of $357.48 million, a PE ratio of 7.59 and a beta of 1.30. The business has a 50 day moving average price of $13.81 and a 200 day moving average price of $13.09. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 4.98.

NewtekOne (NASDAQ:NEWT) last issued its quarterly earnings data on Wednesday, November 6th. The business services provider reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. The business had revenue of $83.12 million during the quarter, compared to the consensus estimate of $61.76 million. NewtekOne had a net margin of 14.92% and a return on equity of 18.73%. During the same quarter in the prior year, the firm posted $0.38 earnings per share. Equities research analysts expect that NewtekOne, Inc. will post 1.93 EPS for the current fiscal year.

Insider Transactions at NewtekOne

In related news, CEO Barry Sloane acquired 3,000 shares of NewtekOne stock in a transaction that occurred on Tuesday, November 26th. The shares were purchased at an average price of $14.75 per share, for a total transaction of $44,250.00. Following the completion of the transaction, the chief executive officer now owns 1,161,855 shares in the company, valued at $17,137,361.25. This represents a 0.26 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders acquired 45,634 shares of company stock valued at $547,020 over the last 90 days. 6.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NewtekOne

Several institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC boosted its position in shares of NewtekOne by 253.5% during the 3rd quarter. FMR LLC now owns 2,559 shares of the business services provider’s stock worth $32,000 after purchasing an additional 1,835 shares during the period. Harbor Capital Advisors Inc. boosted its position in shares of NewtekOne by 36.1% during the third quarter. Harbor Capital Advisors Inc. now owns 7,542 shares of the business services provider’s stock worth $94,000 after buying an additional 2,002 shares during the period. nVerses Capital LLC grew its stake in shares of NewtekOne by 96.7% in the third quarter. nVerses Capital LLC now owns 5,900 shares of the business services provider’s stock valued at $74,000 after buying an additional 2,900 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in NewtekOne by 28.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 13,863 shares of the business services provider’s stock worth $173,000 after acquiring an additional 3,094 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in NewtekOne by 12.0% during the 2nd quarter. Rhumbline Advisers now owns 33,665 shares of the business services provider’s stock valued at $423,000 after acquiring an additional 3,617 shares during the period. 38.35% of the stock is currently owned by institutional investors and hedge funds.

NewtekOne Company Profile

NewtekOne, Inc operates as the bank holding company for Newtek Bank, National Association that engages in the provision of various business and financial solutions under the Newtek brand name to the small- and medium-sized business market. The company accepts demand, savings, NOW, money market, and time deposits; and provides loans including SBA loans, commercial and industrial loans, and commercial real estate loans.