NewtekOne (NASDAQ:NEWT) Shares Cross Above 200-Day Moving Average – Time to Sell?

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 changing hands.

Wall Street Analyst Weigh In

NEWT has been the subject of several research reports. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $15.00 price target (up previously from $13.00) on shares of NewtekOne in a research note on Friday, November 8th. Piper Sandler increased their price target on NewtekOne from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. Finally, B. Riley cut NewtekOne from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $16.00 to $13.00 in a research note on Wednesday, September 4th.

NewtekOne Trading Down 3.6 %

The firm has a market capitalization of $357.48 million, a PE ratio of 7.59 and a beta of 1.30. The company’s 50-day moving average price is $13.81 and its 200-day moving average price is $13.09. The company has a debt-to-equity ratio of 4.98, a quick ratio of 0.75 and a current ratio of 0.75.

NewtekOne (NASDAQ:NEWT) last announced its quarterly earnings results on Wednesday, November 6th. The business services provider reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. NewtekOne had a return on equity of 18.73% and a net margin of 14.92%. The company had revenue of $83.12 million during the quarter, compared to the consensus estimate of $61.76 million. During the same period in the previous year, the business earned $0.38 EPS. On average, sell-side analysts expect that NewtekOne, Inc. will post 1.93 earnings per share for the current year.

Insider Activity at NewtekOne

In related news, CEO Barry Sloane purchased 40,134 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were purchased at an average cost of $11.75 per share, for a total transaction of $471,574.50. Following the purchase, the chief executive officer now directly owns 1,187,457 shares of the company’s stock, valued at $13,952,619.75. The trade was a 3.50 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired 45,634 shares of company stock valued at $547,020 over the last three months. 6.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NewtekOne

Hedge funds have recently made changes to their positions in the company. FMR LLC boosted its position in shares of NewtekOne by 253.5% in the 3rd quarter. FMR LLC now owns 2,559 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 1,835 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of NewtekOne in the second quarter valued at approximately $62,000. nVerses Capital LLC grew its position in shares of NewtekOne by 96.7% during the third quarter. nVerses Capital LLC now owns 5,900 shares of the business services provider’s stock worth $74,000 after acquiring an additional 2,900 shares during the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of NewtekOne by 36.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 7,542 shares of the business services provider’s stock valued at $94,000 after acquiring an additional 2,002 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in NewtekOne in the 3rd quarter valued at $101,000. Hedge funds and other institutional investors own 38.35% of the company’s stock.

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.