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

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued 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, Newton Golf currently has a consensus rating of “Sell”.

Newton Golf Stock Down 6.1%

The company has a market capitalization of $4.96 million, a PE ratio of -0.61 and a beta of 2.62. The firm has a 50-day moving average of $0.98 and a two-hundred day moving average of $1.32.

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 return on equity of 476.84% and a negative net margin of 103.02%.The firm had revenue of $0.99 million for the quarter. Equities analysts predict that Newton Golf Company, Inc. will post -0.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Newton Golf

Institutional investors and hedge funds have recently bought and sold shares of the business. DRW Securities LLC purchased a new position in shares of Newton Golf during the 4th quarter worth $27,000. Virtu Financial LLC acquired a new stake in shares of Newton Golf during the 3rd quarter worth about $28,000. Finally, Geode Capital Management LLC raised its holdings in 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 during the period. 0.49% of the stock is currently owned by institutional investors and hedge funds.

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.