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

Newton Golf Company, Inc. (NASDAQ:NWTG) was the recipient of a large 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. Approximately 2.4% of the company’s shares are short sold. Based on an average daily trading volume, of 50,603 shares, the days-to-cover ratio is presently 2.0 days. Based on an average daily trading volume, of 50,603 shares, the days-to-cover ratio is presently 2.0 days. Approximately 2.4% of the company’s shares are short sold.

Wall Street Analyst Weigh In

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

Newton Golf Trading Up 2.8%

NASDAQ NWTG traded up $0.04 during trading hours on Friday, hitting $1.46. 31,597 shares of the company’s stock were exchanged, compared to its average volume of 43,620. The firm has a market cap of $6.94 million, a price-to-earnings ratio of -1.19 and a beta of 4.45. The stock has a 50-day simple moving average of $1.61 and a 200 day simple moving average of $1.67. Newton Golf has a 1-year low of $0.82 and a 1-year high of $40.20.

Newton Golf (NASDAQ:NWTG) last posted its quarterly earnings results 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). The business had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.38 million. Newton Golf had a negative return on equity of 566.85% and a negative net margin of 172.69%.

Insider Activity at Newton Golf

In related news, Director Brett Widney Hoge purchased 83,000 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The stock was bought at an average price of $1.07 per share, with a total value of $88,810.00. Following the completion of the purchase, the director owned 231,371 shares in the company, valued at approximately $247,566.97. This represents a 55.94% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders bought 112,000 shares of company stock valued at $126,910. Insiders own 8.40% of the company’s stock.

Institutional Trading of Newton Golf

An institutional investor recently bought a new position in Newton Golf stock. Virtu Financial LLC bought a new stake in Newton Golf Company, Inc. (NASDAQ:NWTG) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 16,009 shares of the company’s stock, valued at approximately $28,000. Virtu Financial LLC owned approximately 0.35% of Newton Golf at the end of the most recent reporting period. Institutional investors own 0.49% of the company’s stock.

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.