NewtekOne (NASDAQ:NEWT) Rating Lowered to Sell at Wall Street Zen

NewtekOne (NASDAQ:NEWT) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

NEWT has been the subject of a number of other research reports. Zacks Research downgraded shares of NewtekOne from a “hold” rating to a “strong sell” rating in a report on Friday, August 7th. Weiss Ratings upgraded NewtekOne from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, July 13th. Raymond James Financial upgraded NewtekOne to a “hold” rating in a research report on Wednesday, July 1st. Keefe, Bruyette & Woods raised their target price on NewtekOne from $12.00 to $13.00 and gave the stock a “market perform” rating in a research note on Friday, May 1st. Finally, Piper Sandler raised their target price on NewtekOne from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, NewtekOne currently has a consensus rating of “Hold” and a consensus target price of $15.33.

NewtekOne Stock Performance

Shares of NEWT stock opened at $13.02 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 7.41. NewtekOne has a twelve month low of $9.59 and a twelve month high of $15.69. The company’s 50-day moving average price is $14.30 and its 200-day moving average price is $13.24. The stock has a market cap of $376.15 million, a price-to-earnings ratio of 5.86 and a beta of 1.27.

NewtekOne (NASDAQ:NEWT) last released its quarterly earnings data on Thursday, August 6th. The business services provider reported $0.47 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.47. The firm had revenue of $90.05 million during the quarter, compared to analysts’ expectations of $75.00 million. NewtekOne had a net margin of 15.57% and a return on equity of 17.97%. As a group, equities analysts predict that NewtekOne will post 2.18 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Barry Sloane bought 5,000 shares of the business’s stock in a transaction on Monday, June 15th. The shares were bought at an average price of $14.20 per share, with a total value of $71,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,181,914 shares in the company, valued at $16,783,178.80. This trade represents a 0.42% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have purchased 18,237 shares of company stock valued at $256,959. 5.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Ancora Advisors LLC acquired a new position in NewtekOne during the 2nd quarter worth about $46,000. Advisory Services Network LLC acquired a new stake in shares of NewtekOne during the third quarter worth about $46,000. Quantbot Technologies LP acquired a new stake in shares of NewtekOne during the second quarter worth about $107,000. Dumont & Blake Investment Advisors LLC purchased a new position in shares of NewtekOne in the first quarter valued at approximately $118,000. Finally, Cerity Partners LLC grew its holdings in shares of NewtekOne by 18.0% in the fourth quarter. Cerity Partners LLC now owns 13,714 shares of the business services provider’s stock valued at $156,000 after purchasing an additional 2,095 shares in the last quarter. 38.35% of the stock is currently owned by hedge funds and other institutional investors.

About NewtekOne

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.