Newton Golf Company, Inc. (NASDAQ:NWTG) Short Interest Down 49.2% in March

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in NWTG. Geode Capital Management LLC lifted its position in Newton Golf by 45.6% during the fourth quarter. Geode Capital Management LLC now owns 41,530 shares of the company’s stock valued at $62,000 after purchasing an additional 13,001 shares during the period. Virtu Financial LLC acquired a new stake in Newton Golf during the 3rd quarter worth about $28,000. Finally, DRW Securities LLC purchased a new position in shares of Newton Golf during the 4th quarter valued at about $27,000. Hedge funds and other institutional investors own 0.49% of the company’s stock.

Newton Golf Stock Performance

NWTG traded down $0.04 during trading on Thursday, reaching $1.45. 4,946 shares of the company’s stock were exchanged, compared to its average volume of 18,061. Newton Golf has a 1 year low of $0.82 and a 1 year high of $3.50. The company’s fifty day simple moving average is $1.56 and its 200-day simple moving average is $1.61.

Analyst Ratings Changes

Separately, Weiss Ratings restated 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 stock 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.