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

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

Insider Activity at NewtekOne

In related news, CEO Barry Sloane acquired 3,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were purchased at an average price of $12.95 per share, for a total transaction of $38,850.00. Following the completion of the acquisition, the chief executive officer now 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have purchased 4,750 shares of company stock worth $61,368 in the last quarter. Company insiders own 6.50% of the company’s stock.

Institutional Investors Weigh In On NewtekOne

Institutional investors and hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of NewtekOne by 8.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,806 shares of the business services provider’s stock valued at $176,000 after purchasing an additional 1,081 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of NewtekOne by 199.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,557 shares of the business services provider’s stock worth $33,000 after buying an additional 1,703 shares during the last quarter. FMR LLC grew its holdings in shares of NewtekOne by 253.5% in the third quarter. FMR LLC now owns 2,559 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 1,835 shares in the last quarter. Aquatic Capital Management LLC increased its position in shares of NewtekOne by 66.2% during the fourth quarter. Aquatic Capital Management LLC now owns 5,484 shares of the business services provider’s stock valued at $70,000 after acquiring an additional 2,184 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in NewtekOne by 137.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,316 shares of the business services provider’s stock worth $56,000 after purchasing an additional 2,500 shares during the last quarter. 38.35% of the stock is owned by hedge funds and other institutional investors.

NewtekOne Stock Performance

NEWT opened at $12.51 on Thursday. The company has a market cap of $329.08 million, a price-to-earnings ratio of 6.99 and a beta of 1.33. The company’s fifty day moving average price is $12.70 and its two-hundred day moving average price is $12.95. NewtekOne has a 1-year low of $10.07 and a 1-year 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 announced its quarterly earnings results 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. The business had revenue of $75.37 million for the quarter, compared to analysts’ expectations of $69.55 million. NewtekOne had a net margin of 14.92% and a return on equity of 18.73%. On average, analysts expect that NewtekOne will post 1.93 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.