NewtekOne (NASDAQ:NEWT) Stock Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• NewtekOne's stock price has surpassed its 200-day moving average of $11.35, reaching a high of $12.28 before settling at $12.01.
• Analysts have mixed ratings for NewtekOne, with Keefe, Bruyette & Woods raising their price target to $13.00 and B. Riley initiating coverage with a "buy" rating at a $18.00 target.
• The company's earnings report for the last quarter showed a profit of $0.52 per share, slightly beating estimates, while setting an EPS guidance of 2.100-2.500 for FY 2025.

NewtekOne, Inc. (NASDAQ:NEWT - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.35 and traded as high as $12.28. NewtekOne shares last traded at $12.01, with a volume of 111,957 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $13.00 price objective (up from $12.00) on shares of NewtekOne in a research report on Friday, September 19th. Piper Sandler lifted their price objective on NewtekOne from $11.50 to $12.00 and gave the company a "neutral" rating in a research report on Tuesday, July 29th. Finally, B. Riley started coverage on NewtekOne in a research report on Monday, September 15th. They set a "buy" rating and a $18.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, NewtekOne has an average rating of "Moderate Buy" and a consensus target price of $14.25.

NewtekOne Stock Down 1.2%

The company's fifty day moving average price is $11.89 and its 200-day moving average price is $11.35. The stock has a market capitalization of $316.10 million, a PE ratio of 5.98 and a beta of 1.25. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 5.95.

NewtekOne (NASDAQ:NEWT - Get Free Report) last released its earnings results on Monday, July 28th. The business services provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.02. NewtekOne had a net margin of 14.65% and a return on equity of 19.16%. The firm had revenue of $70.20 million during the quarter, compared to analyst estimates of $73.88 million. NewtekOne has set its FY 2025 guidance at 2.100-2.500 EPS. Analysts forecast that NewtekOne, Inc. will post 1.93 earnings per share for the current year.

Hedge Funds Weigh In On NewtekOne

Hedge funds have recently added to or reduced their stakes in the company. Jump Financial LLC raised its holdings in NewtekOne by 217.1% in the 1st quarter. Jump Financial LLC now owns 33,114 shares of the business services provider's stock worth $396,000 after acquiring an additional 22,672 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in NewtekOne by 8.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 12,780 shares of the business services provider's stock worth $153,000 after acquiring an additional 980 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new position in NewtekOne in the 1st quarter worth approximately $1,877,000. Nuveen Asset Management LLC raised its holdings in NewtekOne by 59.3% in the 4th quarter. Nuveen Asset Management LLC now owns 68,230 shares of the business services provider's stock worth $871,000 after acquiring an additional 25,399 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in NewtekOne by 37.3% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 158,982 shares of the business services provider's stock worth $1,901,000 after acquiring an additional 43,161 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.

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