Newton Golf (NASDAQ:NWTG) Shares Down 1% – What’s Next?

Shares of Newton Golf Company, Inc. (NASDAQ:NWTG) traded down 1% on Thursday . The company traded as low as $1.0120 and last traded at $1.02. 16,722 shares were traded during mid-day trading, a decline of 57% from the average session volume of 39,329 shares. The stock had previously closed at $1.03.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Newton Golf in a research note on Monday, June 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Newton Golf currently has an average rating of “Sell”.

Newton Golf Price Performance

The firm has a market capitalization of $4.64 million, a PE ratio of -0.57 and a beta of 2.64. The stock’s 50-day moving average price is $1.08 and its 200 day moving average price is $1.39.

Newton Golf (NASDAQ:NWTG) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.58) earnings per share (EPS) for the quarter. Newton Golf had a negative net margin of 103.02% and a negative return on equity of 476.84%. The firm had revenue of $0.99 million during the quarter. Equities research analysts forecast that Newton Golf Company, Inc. will post -0.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Newton Golf

Hedge funds have recently made changes to their positions in the company. Virtu Financial LLC bought a new stake in shares of Newton Golf in the third quarter valued at about $28,000. DRW Securities LLC bought a new position in Newton Golf during the 4th quarter worth about $27,000. Finally, Geode Capital Management LLC increased its position in Newton Golf by 45.6% during the 4th 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. 0.49% of the stock is currently owned by hedge funds and other institutional investors.

About Newton Golf

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.