The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. NewtekOne Inc. shares valued at $153,200 were purchased by SLOANE BARRY on Mar 02. At $15.32 per share, SLOANE BARRY acquired 10,000 shares. The insider’s holdings grew to 1,108,048 shares worth approximately $17.02 million following the completion of this transaction.
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Also, SLOANE BARRY purchased 4,200 shares, netting a total of over 101,636 in proceeds. Following the buying of shares at $24.20 each, the insider now holds 988,016 shares.
As published in their initiating research note from Piper Sandler on February 22, 2023, NewtekOne Inc. [NEWT] has been a Neutral. Analysts at Raymond James upgraded the stock from ‘”an Underperform”‘ to ‘”a Mkt perform”‘ outlook in a report released in early August. As of August 03, 2021, Raymond James has decreased its “Mkt perform” rating to a “an Underperform” for NEWT. Earlier on June 07, 2021, Compass Point downgraded its rating. Their new recommendation was “a Neutral” for NEWT stock which previously was a “a Buy”.
Analyzing NEWT Stock Performance
On Thursday, NewtekOne Inc. [NASDAQ: NEWT] rose 0.26% to $15.36. The stock’s lowest price that day was $15.02, but it reached a high of $15.77 in the same session. During the last five days, there has been a drop of approximately -19.58%. Over the course of the year, NewtekOne Inc. shares have dropped approximately -5.48%. Shares of the company reached a 52-week high of $20.83 on 02/17/23 and a 52-week low of $14.55 on 03/01/23. A 50-day SMA is recorded $17.96, while a 200-day SMA reached $19.11.
Support And Resistance Levels for NewtekOne Inc. (NEWT)
According to the 24-hour chart, there is a support level at 15.00, which, if violated, would cause prices to drop to 14.63. In the upper region, resistance lies at 15.75. The next price resistance is at 16.13. RSI (Relative Strength Index) is 28.33 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.46, which suggests the price will decrease in the coming days. Percent R is at 87.10%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is NewtekOne Inc. subject to short interest?
Stocks of NewtekOne Inc. saw a sharp rise in short interest on Jan 12, 2023 jumping by 0.36 million shares to 2.03 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 1.67 million shares. A jump of 17.73% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 8.33 of the overall float, the days-to-cover ratio (short ratio) jumped to 8.33.
Which companies own the most shares of NewtekOne Inc. (NEWT)?
According to Royce & Associates LP filings, the company currently owns 1,020,507 shares, which is about 4.18% of the total NEWT shares outstanding. The investor’s shares have appreciated by 574,302 from its previous 13-F filing of 446205.0 shares. With the completion of the buy transaction, Invesco Capital Management LLC’s stake is now worth $12,706,732. A total of -1,531 shares of NewtekOne Inc. were bought by Bard Associates, Inc. during the quarter, and -27,853 were sold by Advisors Asset Management, Inc. In its current portfolio, Two Sigma Advisers LP holds 109,300 shares valued at $2.03 million.
In terms of NewtekOne Inc. share price expectations, FactSet research, analysts set an average price target of $17.33 in the next 12 months, up nearly 10.97% from the previous closing price of $15.32. Analysts anticipate NewtekOne Inc. stock to reach $19.00 by 2023, with the lowest price target being $16.00. In spite of this, 4 analysts ranked NewtekOne Inc. stock as a Hold at the end of 2023. On April 20, 2021, Compass Point assigned a price target of “a Buy” to the stock and upgraded coverage with a $30.