NewtekOne, Inc. (NASDAQ:NEWT) Short Interest Up 23.3% in February

NewtekOne, Inc. (NASDAQ:NEWT) was the target of a significant increase in short interest during 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. Currently, 5.8% of the shares of the company are sold short. Based on an average daily volume of 171,300 shares, the days-to-cover ratio is presently 8.3 days.

NewtekOne Stock Performance

Shares of NewtekOne stock traded up $0.04 during trading hours on Wednesday, reaching $12.35. 12,516 shares of the stock traded hands, compared to its average volume of 162,544. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 4.98. The firm has a market capitalization of $324.87 million, a price-to-earnings ratio of 6.92 and a beta of 1.33. The company has a 50 day moving average price of $12.70 and a 200 day moving average price of $12.96. NewtekOne has a one year low of $10.07 and a one year high of $15.49.

NewtekOne (NASDAQ:NEWT) last posted its quarterly earnings results on Wednesday, February 26th. The business services provider reported $0.69 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 18.73% and a net margin of 14.92%. On average, equities research analysts expect that NewtekOne will post 1.93 earnings per share for the current fiscal year.

Insider Buying and Selling at NewtekOne

In other news, CEO Barry Sloane acquired 3,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were bought at an average cost of $12.95 per share, with a total value of $38,850.00. Following the acquisition, the chief executive officer now owns 1,164,855 shares in the company, valued at approximately $15,084,872.25. This represents a 0.26 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have acquired a total of 4,750 shares of company stock valued at $61,368 over the last three months. 6.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Quest Partners LLC boosted its holdings in shares of NewtekOne by 156.0% in the third quarter. Quest Partners LLC now owns 33,618 shares of the business services provider’s stock valued at $419,000 after purchasing an additional 20,488 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in NewtekOne by 245.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 91,226 shares of the business services provider’s stock worth $1,137,000 after buying an additional 64,790 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in NewtekOne in the third quarter valued at about $197,000. FMR LLC boosted its stake in NewtekOne by 253.5% in the 3rd quarter. FMR LLC now owns 2,559 shares of the business services provider’s stock worth $32,000 after purchasing an additional 1,835 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of NewtekOne by 28.7% during the third quarter. BNP Paribas Financial Markets now owns 13,863 shares of the business services provider’s stock valued at $173,000 after buying an additional 3,094 shares during the last quarter. Institutional investors own 38.35% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, B. Riley upped their price objective on shares of NewtekOne from $13.00 to $14.00 and gave the stock a “neutral” rating in a report 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.