Newton Golf (NASDAQ:NWTG) Trading Down 5.8% – What’s Next?

Newton Golf Company, Inc. (NASDAQ:NWTG) fell 5.8% on Friday . The company traded as low as $1.78 and last traded at $1.79. 96,125 shares were traded during trading, a decline of 32% from the average session volume of 141,986 shares. The stock had previously closed at $1.90.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NWTG. Weiss Ratings reiterated a “sell (e+)” rating on shares of Newton Golf in a research note on Wednesday. Wall Street Zen lowered Newton Golf from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of “Sell”.

Newton Golf Stock Performance

The business has a 50 day simple moving average of $1.84. The company has a market cap of $8.25 million, a PE ratio of -0.02 and a beta of 4.65.

Newton Golf (NASDAQ:NWTG) last posted its quarterly earnings data on Thursday, August 14th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.22). Newton Golf had a negative return on equity of 570.38% and a negative net margin of 205.92%.The company had revenue of $2.07 million for the quarter, compared to the consensus estimate of $1.54 million.

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.