Newton Golf Company, Inc. (NASDAQ:NWTG) Stock Short Interest Falls 49.7%

Newton Golf Company, Inc. (NASDAQ:NWTG) saw a large decrease in short interest during the month of October. As of October 15th, there was short interest totaling 74,765 shares, a decrease of 49.7% from the September 30th total of 148,594 shares. Currently, 1.8% of the company’s shares are short sold. Based on an average trading volume of 332,081 shares, the days-to-cover ratio is currently 0.2 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Newton Golf in a research note on Friday, September 4th. One investment analyst has rated the stock with a Sell rating. According to MarketBeat, Newton Golf presently has a consensus rating of “Sell”.

Newton Golf Price Performance

NWTG stock traded up $0.03 during trading hours on Monday, reaching $1.04. 4,035 shares of the stock were exchanged, compared to its average volume of 68,116. The firm’s 50-day moving average is $1.12 and its 200-day moving average is $1.24. The company has a market cap of $4.77 million, a price-to-earnings ratio of -0.54 and a beta of 2.43. Newton Golf has a 12 month low of $0.70 and a 12 month high of $1.94.

Newton Golf (NASDAQ:NWTG) last issued its quarterly earnings results on Friday, August 14th. The company reported ($0.49) EPS for the quarter. The firm had revenue of $1.32 billion during the quarter. Newton Golf had a negative net margin of 124.42% and a negative return on equity of 476.84%. As a group, equities research analysts forecast that Newton Golf will post -0.48 earnings per share for the current year.

About Newton Golf

Newton Golf Company, Inc develops and markets golf equipment and related technology under the Newton Golf brand. The company’s product portfolio is centered on golf shafts designed to support golfers’ performance, consistency and club-fitting needs.

Its offerings include the Newton Motion line of shafts for drivers, irons and putters, along with other golf equipment and accessories. The company sells its products through golf-industry distribution channels and directly to consumers, serving the golf market primarily in the United States.

Newton Golf is focused on applying product design and engineering to the development of performance-oriented golf equipment.