Newton Golf Company, Inc. (NASDAQ:NWTG) Sees Significant Decline in Short Interest

Newton Golf Company, Inc. (NASDAQ:NWTG) was the target of a significant drop in short interest in the month of March. As of March 13th, there was short interest totaling 47,987 shares, a drop of 49.2% from the February 26th total of 94,503 shares. Currently, 1.1% of the company’s stock are sold short. Based on an average daily trading volume, of 15,615 shares, the days-to-cover ratio is currently 3.1 days.

Institutional Trading of Newton Golf

Institutional investors have recently bought and sold shares of the company. DRW Securities LLC purchased a new position in Newton Golf in the fourth quarter worth about $27,000. Geode Capital Management LLC lifted its stake in shares of Newton Golf by 45.6% in the fourth quarter. Geode Capital Management LLC now owns 41,530 shares of the company’s stock worth $62,000 after buying an additional 13,001 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Newton Golf during the third quarter valued at approximately $28,000. 0.49% of the stock is owned by hedge funds and other institutional investors.

Newton Golf Trading Up 0.5%

NASDAQ:NWTG traded up $0.01 during trading hours on Friday, reaching $1.47. 2,229 shares of the company traded hands, compared to its average volume of 30,867. The business’s 50-day moving average price is $1.56 and its two-hundred day moving average price is $1.61. Newton Golf has a 1 year low of $0.82 and a 1 year high of $3.50. The stock has a market capitalization of $6.99 million, a P/E ratio of -1.20 and a beta of 4.19.

Analysts Set New Price Targets

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

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.