NewtekOne (NASDAQ:NEWT) PT Lowered to $12.00

Posted by Defense World Staff on Mar 18th, 2023

NewtekOne (NASDAQ:NEWT – Get Rating) had its price objective reduced by research analysts at Keefe, Bruyette & Woods from $19.00 to $12.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “market perform” rating on the business services provider’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 5.17% from the company’s previous close.

Several other equities research analysts have also weighed in on the company. Piper Sandler initiated coverage on NewtekOne in a research report on Wednesday, February 22nd. They issued a “neutral” rating on the stock. StockNews.com initiated coverage on NewtekOne in a research report on Thursday. They issued a “sell” rating on the stock. One research analyst has rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat, NewtekOne currently has an average rating of “Hold” and an average price target of $17.00.

NewtekOne Stock Performance

Shares of NEWT opened at $11.41 on Thursday. The business’s fifty day moving average price is $17.44 and its 200 day moving average price is $17.39. NewtekOne has a 12-month low of $11.19 and a 12-month high of $27.89. The stock has a market capitalization of $280.91 million, a PE ratio of 8.51 and a beta of 1.29. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.94 and a quick ratio of 1.94.

Insider Activity at NewtekOne

In other NewtekOne news, CEO Barry Sloane acquired 10,000 shares of the firm’s stock in a transaction on Thursday, March 2nd. The stock was purchased at an average cost of $15.32 per share, for a total transaction of $153,200.00. Following the transaction, the chief executive officer now owns 1,108,048 shares of the company’s stock, valued at approximately $16,975,295.36. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 5.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NewtekOne

Institutional investors have recently bought and sold shares of the business. BDO Wealth Advisors LLC raised its stake in shares of NewtekOne by 83.3% in the 3rd quarter. BDO Wealth Advisors LLC now owns 2,200 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 1,000 shares in the last quarter. IFP Advisors Inc raised its stake in shares of NewtekOne by 81.5% in the 3rd quarter. IFP Advisors Inc now owns 2,450 shares of the business services provider’s stock valued at $50,000 after acquiring an additional 1,100 shares in the last quarter. Royal Bank of Canada raised its stake in shares of NewtekOne by 1,166.7% in the 1st quarter. Royal Bank of Canada now owns 2,166 shares of the business services provider’s stock valued at $58,000 after acquiring an additional 1,995 shares in the last quarter. Money Concepts Capital Corp bought a new position in shares of NewtekOne in the 4th quarter valued at approximately $62,000. Finally, BNP Paribas Arbitrage SNC bought a new position in NewtekOne in the 3rd quarter worth approximately $83,000. 14.91% of the stock is currently owned by institutional investors and hedge funds.

NewtekOne Company Profile

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NewtekOne, Inc is a non-diversified closed-end management investment company engaged in the provision of business and financial solutions. It offers loans, payments, payroll and benefits, web solutions, insurance, and technology solutions. The company was founded by Barry Sloane in 1998 and is headquartered in Boca Raton, FL.