NewtekOne (NASDAQ:NEWT) Rating Lowered to Sell at StockNews.com

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

Several other analysts have also weighed in on NEWT. B. Riley restated a “buy” rating and issued a $18.00 price objective (down previously from $19.00) on shares of NewtekOne in a report on Thursday, March 7th. Keefe, Bruyette & Woods cut their price objective on NewtekOne from $16.00 to $13.00 and set a “market perform” rating for the company in a report on Wednesday, March 20th. Finally, Piper Sandler reduced their target price on NewtekOne from $13.00 to $11.00 and set a “neutral” rating for the company in a report on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $14.50.

NewtekOne Price Performance

Shares of NEWT opened at $11.00 on Friday. The company has a market cap of $282.04 million, a P/E ratio of 6.79 and a beta of 1.25. The stock has a fifty day moving average price of $11.22 and a 200 day moving average price of $12.63. The company has a debt-to-equity ratio of 4.83, a current ratio of 1.10 and a quick ratio of 1.10. NewtekOne has a 12 month low of $10.07 and a 12 month high of $19.36.

NewtekOne (NASDAQ:NEWT) last released its quarterly earnings results on Wednesday, March 6th. The business services provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.05). NewtekOne had a return on equity of 20.04% and a net margin of 15.19%. The business had revenue of $75.60 million during the quarter, compared to the consensus estimate of $62.99 million. During the same period in the previous year, the company posted $0.06 EPS. On average, research analysts forecast that NewtekOne will post 1.83 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Ridgewood Investments LLC increased its stake in shares of NewtekOne by 15.4% in the 1st quarter. Ridgewood Investments LLC now owns 52,485 shares of the business services provider’s stock valued at $577,000 after buying an additional 7,000 shares during the period. Cape Investment Advisory Inc. acquired a new stake in shares of NewtekOne in the 4th quarter valued at $89,000. Jump Financial LLC acquired a new stake in shares of NewtekOne in the 4th quarter valued at $155,000. International Assets Investment Management LLC increased its stake in shares of NewtekOne by 1,280.0% in the 4th quarter. International Assets Investment Management LLC now owns 100,740 shares of the business services provider’s stock valued at $1,390,000 after buying an additional 93,440 shares during the period. Finally, SeaBridge Investment Advisors LLC acquired a new stake in shares of NewtekOne in the 4th quarter valued at $138,000. Institutional investors and hedge funds own 38.35% of the company’s stock.

About NewtekOne

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.