Newton Golf (NASDAQ:NWTG) Shares Down 8.8% – Should You Sell?

Newton Golf Company, Inc. (NASDAQ:NWTGGet Free Report) shares were down 8.8% during mid-day trading on Monday . The company traded as low as $1.13 and last traded at $1.14. 10,694 shares traded hands during trading, a decline of 63% from the average session volume of 28,745 shares. The stock had previously closed at $1.25.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Newton Golf in a research note on Monday, June 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

View Our Latest Analysis on Newton Golf

Newton Golf Trading Down 8.8%

The company has a market capitalization of $5.23 million, a PE ratio of -0.64 and a beta of 2.46. The firm’s 50-day simple moving average is $1.01 and its 200-day simple moving average is $1.25.

Newton Golf (NASDAQ:NWTGGet Free Report) last issued its earnings results on Thursday, May 14th. The company reported ($0.58) EPS for the quarter. The company had revenue of $0.99 million during the quarter. Newton Golf had a negative return on equity of 476.84% and a negative net margin of 103.02%. As a group, analysts anticipate that Newton Golf Company, Inc. will post -0.48 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NWTG. DRW Securities LLC bought a new stake in Newton Golf during the 4th quarter valued at $27,000. Virtu Financial LLC bought a new position in shares of Newton Golf during the 3rd quarter worth $28,000. Finally, Geode Capital Management LLC grew its position in shares of Newton Golf by 45.6% during the 4th 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. 0.49% of the stock is currently owned by hedge funds and other institutional investors.

Newton Golf Company Profile

(Get Free Report)

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.

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