Newton Golf Company, Inc. (NASDAQ:NWTG) Shares Shorted: Short Interest Up 94.1% in October

Newton Golf Company, Inc. (NASDAQ:NWTG) saw a significant increase in short interest during the month of October. As of October 30th, there was short interest totaling 145,119 shares, an increase of 94.1% from the October 15th total of 74,765 shares. Based on an average daily volume of 61,124 shares, the short-interest ratio is presently 2.4 days. Approximately 3.5% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

NWTG has been the subject of a number of analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Newton Golf in a research note on Friday, September 4th. Zacks Research started coverage on shares of Newton Golf in a report on Wednesday. They set a “hold” rating for the company. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

Newton Golf Stock Performance

Shares of NASDAQ:NWTG traded down $0.03 during trading on Friday, hitting $0.94. 98,778 shares of the stock were exchanged, compared to its average volume of 155,979. Newton Golf has a 1-year low of $0.63 and a 1-year high of $1.94. The company has a market capitalization of $4.31 million, a price-to-earnings ratio of -0.52 and a beta of 2.43. The company’s fifty day simple moving average is $1.04 and its 200-day simple moving average is $1.20.

Newton Golf (NASDAQ:NWTG) last issued its earnings results on Thursday, November 12th. The company reported ($0.23) EPS for the quarter. The firm had revenue of $1.37 million during the quarter. Newton Golf had a negative net margin of 144.07% and a negative return on equity of 476.84%. On average, research analysts forecast that Newton Golf will post -0.48 earnings per share for the current fiscal year.

Newton Golf Company Profile

Newton Golf Company, Inc. develops and markets golf equipment and related technology under the Newton Golf brand. The company’s product portfolio is centered on golf shafts designed to support golfers’ performance, consistency and club-fitting needs. Its offerings include the Newton Motion line of shafts for drivers, irons and putters, along with other golf equipment and accessories. The company sells its products through golf-industry distribution channels and directly to consumers, serving the golf market primarily in the United States.