Short Interest in NewtekOne, Inc. (NASDAQ:NEWT) Rises By 23.3%

NewtekOne, Inc. (NASDAQ:NEWT) was the recipient of a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 1,430,000 shares, an increase of 23.3% from the February 13th total of 1,160,000 shares. Based on an average daily volume of 171,300 shares, the short-interest ratio is presently 8.3 days. Currently, 5.8% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Separately, B. Riley boosted their target price on shares of NewtekOne from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th.

Insider Activity at NewtekOne

In other news, CEO Barry Sloane bought 3,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average cost of $12.95 per share, for a total transaction of $38,850.00. Following the purchase, the chief executive officer now directly owns 1,164,855 shares in the company, valued at approximately $15,084,872.25. This trade represents a 0.26 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders bought a total of 4,750 shares of company stock worth $61,368 in the last three months. Company insiders own 6.50% of the company’s stock.

Institutional Investors Weigh In On NewtekOne

A number of large investors have recently modified their holdings of the business. Geode Capital Management LLC grew its holdings in shares of NewtekOne by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 584,541 shares of the business services provider’s stock worth $7,467,000 after buying an additional 10,933 shares in the last quarter. State Street Corp grew its holdings in shares of NewtekOne by 1.0% during the third quarter. State Street Corp now owns 474,419 shares of the business services provider’s stock worth $5,911,000 after buying an additional 4,595 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of NewtekOne by 68.3% during the fourth quarter. Bank of New York Mellon Corp now owns 279,001 shares of the business services provider’s stock worth $3,563,000 after buying an additional 113,261 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of NewtekOne by 66.2% during the fourth quarter. Wellington Management Group LLP now owns 253,627 shares of the business services provider’s stock worth $3,239,000 after buying an additional 100,989 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of NewtekOne by 9.6% during the fourth quarter. Northern Trust Corp now owns 210,102 shares of the business services provider’s stock worth $2,683,000 after buying an additional 18,407 shares in the last quarter. Hedge funds and other institutional investors own 38.35% of the company’s stock.

NewtekOne Price Performance

Shares of NASDAQ NEWT opened at $12.19 on Tuesday. The firm has a market cap of $320.66 million, a PE ratio of 6.81 and a beta of 1.33. The firm has a fifty day moving average of $12.70 and a 200 day moving average of $12.96. 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 has a one year low of $10.07 and a one year high of $15.49.

NewtekOne (NASDAQ:NEWT) last issued its quarterly earnings results on Wednesday, February 26th. The business services provider reported $0.69 EPS for the quarter, topping the consensus estimate of $0.66 by $0.03. The company had revenue of $75.37 million during the quarter, compared to analyst estimates of $69.55 million. NewtekOne had a net margin of 14.92% and a return on equity of 18.73%. As a group, research analysts predict that NewtekOne will post 1.93 EPS for the current fiscal year.

About NewtekOne

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.