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Newtek Business ( (NEWT) ) has provided an announcement.
NewtekOne, Inc. has announced the establishment of a new series of preferred stock, designated as the 8.500% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B. This move is part of a previously disclosed underwritten public offering of 2,000,000 depositary shares, each representing a 1/40th interest in a share of the Company’s Series B Preferred Stock. The Series B Preferred Stock will rank senior to the Company’s common stock and on a parity with its Series A Convertible Preferred Stock, subject to certain restrictions on dividends and other financial activities.
The most recent analyst rating on (NEWT) stock is a Hold with a $14.00 price target. To see the full list of analyst forecasts on Newtek Business stock, see the NEWT Stock Forecast page.
Spark’s Take on NEWT Stock
According to Spark, TipRanks’ AI Analyst, NEWT is a Neutral.
Newtek Business’s overall stock score is primarily impacted by significant financial challenges, including zero revenue in 2024 and negative cash flow. However, the stock’s attractive valuation and positive earnings call highlights provide some optimism. Technical indicators and corporate events offer mixed signals, contributing to a moderate overall score.
To see Spark’s full report on NEWT stock, click here.
More about Newtek Business
Average Trading Volume: 213,709
Technical Sentiment Signal: Buy
Current Market Cap: $317.4M
See more insights into NEWT stock on TipRanks’ Stock Analysis page.