Newtek Business Services Corp. (NEWT)’s Bullish Double Top Chart Pattern Points to Lower Stock Risks

September 14, 2018 - By Robert Shackelford

Newtek Business Services Corp. (NASDAQ:NEWT) Logo

Investors sentiment decreased to 0.96 in Q2 2018. Its down 0.36, from 1.32 in 2018Q1. It worsened, as 12 investors sold Newtek Business Services Corp. shares while 12 reduced holdings. 8 funds opened positions while 15 raised stakes. 3.46 million shares or 0.37% less from 3.48 million shares in 2018Q1 were reported.
Advisors Asset Mgmt holds 0.15% or 440,964 shares. Jnba Financial Advsrs accumulated 900 shares or 0% of the stock. Amer Asset Mgmt Incorporated accumulated 14,697 shares or 0.19% of the stock. Moreover, Barclays Public Limited Company has 0% invested in Newtek Business Services Corp. (NASDAQ:NEWT) for 51 shares. Geode has 17,076 shares. Mckinley Capital Management Delaware accumulated 0.2% or 156,019 shares. Moreover, Lpl Lc has 0% invested in Newtek Business Services Corp. (NASDAQ:NEWT). Captrust Fin owns 19,520 shares. Wells Fargo Mn holds 0% in Newtek Business Services Corp. (NASDAQ:NEWT) or 10,576 shares. Axa, France-based fund reported 24,200 shares. Guggenheim Capital Limited holds 62,903 shares. Advisory Services Limited Company reported 4,932 shares or 0.01% of all its holdings. Sumitomo Mitsui Asset Ltd holds 59,261 shares or 0.02% of its portfolio. California Pub Employees Retirement System holds 0% of its portfolio in Newtek Business Services Corp. (NASDAQ:NEWT) for 56,934 shares. Opus Gru Ltd Company holds 0.58% or 119,931 shares.

The chart of Newtek Business Services Corp. (NEWT) shows a double top with $23.25 target or 3.00 % above today’s $22.57 share price. The 7 months chart pattern indicates low risk for the $424.17 million company. It was reported on Sep, 14 by If the $23.25 price target is reached, the company will be worth $12.73M more. Double tops are rare but powerful chart patterns.

The stock increased 0.01% or $0.0013 during the last trading session, reaching $22.5713. About 43,203 shares traded. Newtek Business Services Corp. (NASDAQ:NEWT) has risen 31.57% since September 14, 2017 and is uptrending. It has outperformed by 15.95% the S&P500.

Analysts await Newtek Business Services Corp. (NASDAQ:NEWT) to report earnings on November, 7. They expect $0.47 EPS, up 771.43 % or $0.54 from last year’s $-0.07 per share. NEWT’s profit will be $8.83M for 12.01 P/E if the $0.47 EPS becomes a reality. After $0.44 actual EPS reported by Newtek Business Services Corp. for the previous quarter, Wall Street now forecasts 6.82 % EPS growth.

Newtek Business Services Corp. (NASDAQ:NEWT) Ratings Coverage

Among 2 analysts covering Newtek Business Services (NASDAQ:NEWT), 0 have Buy rating, 2 Sell and 0 Hold. Therefore 0 are positive. Newtek Business Services had 3 analyst reports since June 5, 2018 according to SRatingsIntel. On Tuesday, August 28 the stock rating was downgraded by Raymond James to “Underperform”. The firm has “Market Perform” rating by Raymond James given on Tuesday, June 5.

More news for Newtek Business Services Corp. (NASDAQ:NEWT) were recently published by:, which released: “Benzinga’s Top Upgrades, Downgrades For August 28, 2018” on August 28, 2018.‘s article titled: “Factors of Influence in 2018, Key Indicators and Opportunity within Newtek Business Services, Icahn Enterprises …” and published on September 04, 2018 is yet another important article.

Newtek Business Services Corp. is a business development firm specializing in providing financial and business services to the small-and medium-sized business market in the United States. The company has market cap of $424.17 million. The firm also seeks to invest in early stage businesses. It has a 9.81 P/E ratio. The firm seeks to makes both debt and equity investments.

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