NewtekOne, Inc. (NASDAQ:NEWT) Sees Significant Growth in Short Interest

NewtekOne, Inc. (NASDAQ:NEWT) was the target of a large increase in short interest in 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.

Wall Street Analyst Weigh In

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

NewtekOne Stock Up 0.3 %

NASDAQ:NEWT traded up $0.04 during trading hours on Wednesday, hitting $12.35. The company’s stock had a trading volume of 12,516 shares, compared to its average volume of 162,544. The stock has a fifty day moving average of $12.70 and a 200-day moving average of $12.96. The stock has a market capitalization of $324.87 million, a P/E ratio of 6.92 and a beta of 1.33. NewtekOne has a 52-week low of $10.07 and a 52-week high of $15.49. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 4.98.

NewtekOne (NASDAQ:NEWT) last posted its quarterly earnings data on Wednesday, February 26th. The business services provider reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.03. NewtekOne had a return on equity of 18.73% and a net margin of 14.92%. The business had revenue of $75.37 million during the quarter, compared to the consensus estimate of $69.55 million. On average, equities analysts forecast that NewtekOne will post 1.93 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Barry Sloane bought 3,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was acquired at an average price of $12.95 per share, with a total value of $38,850.00. Following the completion of the purchase, the chief executive officer now directly owns 1,164,855 shares of the company’s stock, valued at approximately $15,084,872.25. This trade represents a 0.26 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. In the last 90 days, insiders have purchased 4,750 shares of company stock worth $61,368. Corporate insiders own 6.50% of the company’s stock.

Institutional Investors Weigh In On NewtekOne

Institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC raised its stake in NewtekOne by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 584,541 shares of the business services provider’s stock valued at $7,467,000 after purchasing an additional 10,933 shares during the last quarter. State Street Corp boosted its stake in NewtekOne by 1.0% in the 3rd 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 during the last quarter. Bank of New York Mellon Corp boosted its position in shares of NewtekOne by 68.3% in 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 acquiring an additional 113,261 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of NewtekOne by 66.2% during the 4th quarter. Wellington Management Group LLP now owns 253,627 shares of the business services provider’s stock valued at $3,239,000 after buying an additional 100,989 shares during the period. Finally, Northern Trust Corp increased its stake in 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 acquiring an additional 18,407 shares during the last quarter. 38.35% of the stock is currently owned by hedge funds and other institutional investors.

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.