Newton Golf (NASDAQ:NWTG) Stock Price Up 1.9% – Should You Buy?

Newton Golf Company, Inc. (NASDAQ:NWTG)’s stock price traded up 1.9% on Wednesday . The stock traded as high as $1.69 and last traded at $1.64. 10,361 shares changed hands during trading, a decline of 70% from the average session volume of 34,627 shares. The stock had previously closed at $1.61.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e)” rating on shares of Newton Golf in a report on Monday, December 22nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Newton Golf has a consensus rating of “Sell”.

Newton Golf Stock Up 1.9%

The firm has a market capitalization of $7.79 million, a P/E ratio of -1.33 and a beta of 4.44. The firm has a 50 day moving average of $1.58 and a 200-day moving average of $1.64.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of NWTG. DRW Securities LLC acquired a new position in Newton Golf in the fourth quarter valued at about $27,000. Virtu Financial LLC bought a new position in Newton Golf in the 3rd quarter valued at about $28,000. Finally, Geode Capital Management LLC raised its position 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 buying an additional 13,001 shares in the last quarter. Institutional investors own 0.49% of the company’s stock.

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.