NewtekOne (NASDAQ:NEWT) Downgraded by StockNews.com to Sell

NewtekOne (NASDAQ:NEWT) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Friday.

Other equities research analysts have also recently issued reports about the company. Keefe, Bruyette & Woods decreased their price target on NewtekOne from $16.00 to $13.00 and set a “market perform” rating for the company in a research note on Wednesday, March 20th. Piper Sandler decreased their price target on NewtekOne from $13.00 to $11.00 and set a “neutral” rating for the company in a research note on Monday, March 18th. Finally, B. Riley reiterated a “buy” rating and issued a $18.00 price target (down from $19.00) on shares of NewtekOne in a research note on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, NewtekOne currently has an average rating of “Hold” and a consensus price target of $14.50.

NewtekOne Stock Up 1.1 %

Shares of NASDAQ NEWT traded up $0.12 during mid-day trading on Friday, reaching $11.00. 91,587 shares of the company were exchanged, compared to its average volume of 140,681. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 4.83. The stock has a market cap of $282.02 million, a price-to-earnings ratio of 6.79 and a beta of 1.25. NewtekOne has a 1 year low of $10.07 and a 1 year high of $19.36. The firm has a 50-day moving average of $11.22 and a 200 day moving average of $12.64.

NewtekOne (NASDAQ:NEWT) last issued its quarterly earnings data on Wednesday, March 6th. The business services provider reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.05). The company had revenue of $75.60 million for the quarter, compared to analysts’ expectations of $62.99 million. NewtekOne had a return on equity of 20.04% and a net margin of 15.19%. During the same quarter last year, the company earned $0.06 earnings per share. On average, research analysts expect that NewtekOne will post 1.83 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of NEWT. Cape Investment Advisory Inc. acquired a new position in shares of NewtekOne in the fourth quarter valued at about $89,000. SeaBridge Investment Advisors LLC acquired a new position in shares of NewtekOne in the fourth quarter valued at about $138,000. SG Americas Securities LLC acquired a new position in shares of NewtekOne in the third quarter valued at about $147,000. Jump Financial LLC acquired a new position in shares of NewtekOne in the fourth quarter valued at about $155,000. Finally, Kinloch Capital LLC acquired a new position in shares of NewtekOne in the third quarter valued at about $196,000. 38.35% of the stock is owned by institutional investors and hedge funds.

NewtekOne Company Profile

NewtekOne, Inc, a financial holding company, provides a range of business and financial solutions to the small- and medium-sized business market. Its business and financial solutions include banking services, business lending, electronic payment processing, ecommerce, accounts receivable financing and inventory financing, insurance solutions, web services, and payroll and benefits solutions, as well as technology solutions, including cloud computing, data backup, storage, retrieval, and IT consulting.