NewStar Financial Stock Gaps Down On Today's Open (NEWS)
Shares of NewStar Financial (Nasdaq:NEWS) were gapping down Wednesday morning with an open price 11.9% lower than Tuesday's closing price. The stock closed at $11.87 yesterday and opened today's trading at $10.46.
NEW YORK ( TheStreet) -- Shares of NewStar Financial (Nasdaq: NEWS) were gapping down Wednesday morning with an open price 11.9% lower than Tuesday's closing price. The stock closed at $11.87 Tuesday and opened today's trading at $10.46. The average volume for NewStar Financial has been 56,800 shares per day over the past 30 days. NewStar Financial has a market cap of $585.4 million and is part of the financial sector and financial services industry. Shares are up 16.7% year to date as of the close of trading on Tuesday. NewStar Financial, Inc. operates as a commercial finance company in the United States. It focuses on meeting the financing needs of companies and private investors in the middle market. The company has a P/E ratio of 44, equal to the average financial services industry P/E ratio and above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates NewStar Financial as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, unimpressive growth in net income and generally poor debt management. You can view the full NewStar Financial Ratings Report. Get more investment ideas from our investment research center.