Newton Golf Company, Inc. (NASDAQ:NWTG) Sees Large Decrease in Short Interest

Newton Golf Company, Inc. (NASDAQ:NWTG) was the target of a significant decline in short interest in the month of January. As of January 15th, there was short interest totaling 102,399 shares, a decline of 20.6% from the December 31st total of 128,916 shares. Currently, 2.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 50,603 shares, the short-interest ratio is presently 2.0 days. Based on an average daily trading volume, of 50,603 shares, the short-interest ratio is presently 2.0 days. Currently, 2.4% of the shares of the stock are short sold.

Insider Transactions at Newton Golf

In related news, Director Brett Widney Hoge purchased 83,000 shares of Newton Golf stock in a transaction that occurred on Tuesday, November 18th. The shares were acquired at an average price of $1.07 per share, with a total value of $88,810.00. Following the completion of the transaction, the director directly owned 231,371 shares of the company’s stock, valued at $247,566.97. This represents a 55.94% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders purchased a total of 112,000 shares of company stock worth $126,910 over the last 90 days. Corporate insiders own 8.40% of the company’s stock.

Hedge Funds Weigh In On Newton Golf

An institutional investor recently bought a new position in Newton Golf stock. Virtu Financial LLC acquired a new position in Newton Golf Company, Inc. (NASDAQ:NWTG) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 16,009 shares of the company’s stock, valued at approximately $28,000. Virtu Financial LLC owned about 0.35% of Newton Golf as of its most recent SEC filing. Hedge funds and other institutional investors own 0.49% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e)” rating on shares of Newton Golf in a report on Monday, December 22nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Newton Golf presently has an average rating of “Sell”.

Newton Golf Trading Up 2.8%

NASDAQ NWTG traded up $0.04 during trading on Friday, hitting $1.46. 31,597 shares of the company’s stock were exchanged, compared to its average volume of 43,620. The company has a market cap of $6.94 million, a PE ratio of -1.19 and a beta of 4.45. Newton Golf has a fifty-two week low of $0.82 and a fifty-two week high of $40.20. The stock’s 50 day moving average price is $1.61 and its two-hundred day moving average price is $1.67.

Newton Golf (NASDAQ:NWTG) last released its quarterly earnings data on Thursday, November 13th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.15). Newton Golf had a negative return on equity of 566.85% and a negative net margin of 172.69%.The company had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.38 million.

Newton Golf Company Profile

Sacks Parente Golf, Inc (“SPG”) is a technology-forward golf company, with a growing portfolio of golf products, including putting instruments, golf shafts, golf grips, and other golf-related products. In April 2022, in consideration of our growth opportunities in shaft technologies, we expanded our manufacturing business to include advanced premium golf shafts by opening a new shaft manufacturing facility in St. Joseph, MO. We intend to manufacture and assemble substantially all products in the United States.