Newton Golf (NASDAQ:NWTG) Trading Down 6.1% – Should You Sell?

Newton Golf Company, Inc. (NASDAQ:NWTG) shares traded down 6.1% on Friday . The company traded as low as $1.02 and last traded at $1.08. Approximately 38,531 shares were traded during trading, a decline of 57% from the average session volume of 88,968 shares. The stock had previously closed at $1.15.

Analysts Set New Price Targets

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

Newton Golf Price Performance

The stock’s 50 day moving average is $0.98 and its two-hundred day moving average is $1.32. The stock has a market capitalization of $4.96 million, a PE ratio of -0.61 and a beta of 2.62.

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

Hedge Funds Weigh In On Newton Golf

A number of institutional investors have recently modified their holdings of the business. DRW Securities LLC purchased a new stake in Newton Golf during the 4th quarter valued at approximately $27,000. Virtu Financial LLC acquired a new stake in Newton Golf during the 3rd quarter worth approximately $28,000. Finally, Geode Capital Management LLC grew its stake in shares of 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 purchasing an additional 13,001 shares during the last quarter. 0.49% of the stock is owned by institutional investors and hedge funds.

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.