Short Interest in Newton Golf Company, Inc. (NASDAQ:NWTG) Rises By 27.5%

Newton Golf Company, Inc. (NASDAQ:NWTG) was the target of a large increase in short interest in the month of March. As of March 31st, there was short interest totaling 61,176 shares, an increase of 27.5% from the March 15th total of 47,987 shares. Based on an average trading volume of 26,708 shares, the short-interest ratio is presently 2.3 days. Currently, 1.5% of the company’s shares are short sold.

Institutional Trading of Newton Golf

Institutional investors and hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC purchased a new stake in Newton Golf in the 3rd quarter valued at about $28,000. DRW Securities LLC purchased a new stake in Newton Golf in the 4th quarter valued at about $27,000. Finally, Geode Capital Management LLC raised its holdings in Newton Golf by 45.6% in the 4th quarter. Geode Capital Management LLC now owns 41,530 shares of the company’s stock valued at $62,000 after buying an additional 13,001 shares during the period. 0.49% of the stock is currently owned by hedge funds and other institutional investors.

Newton Golf Trading Up 3.2%

NWTG traded up $0.04 on Friday, hitting $1.30. The company had a trading volume of 32,223 shares, compared to its average volume of 35,138. The firm has a market cap of $5.97 million, a P/E ratio of -0.74 and a beta of 3.57. Newton Golf has a 1 year low of $0.82 and a 1 year high of $2.57. The company’s fifty day moving average price is $1.51 and its 200 day moving average price is $1.55.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated 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, Based on data from MarketBeat.com, the company currently has a consensus 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.