NewtekOne (NASDAQ:NEWT) Stock Rating Lowered by StockNews.com

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

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

NewtekOne Trading Up 1.1 %

NASDAQ NEWT opened at $11.00 on Friday. 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 firm has a market cap of $282.04 million, a PE ratio of 6.79 and a beta of 1.25. The company has a 50 day moving average price of $11.22 and a 200 day moving average price of $12.63. NewtekOne has a 52 week low of $10.07 and a 52 week high of $19.36.

NewtekOne (NASDAQ:NEWT) last posted its quarterly earnings data on Wednesday, March 6th. The business services provider reported $0.53 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 firm had revenue of $75.60 million for the quarter, compared to the consensus estimate of $62.99 million. During the same quarter last year, the firm earned $0.06 EPS. As a group, sell-side analysts forecast that NewtekOne will post 1.83 EPS for the current fiscal year.

Hedge Funds Weigh In On NewtekOne

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

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.