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

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

Newton Golf Stock Down 5.6%

NASDAQ:NWTG traded down $0.06 during trading hours on Friday, reaching $1.01. 5,479 shares of the stock were exchanged, compared to its average volume of 216,650. Newton Golf has a twelve month low of $0.70 and a twelve month high of $1.94. The business has a 50-day moving average of $1.12 and a two-hundred day moving average of $1.24. The company has a market capitalization of $4.64 million, a price-to-earnings ratio of -0.52 and a beta of 2.47.

Newton Golf (NASDAQ:NWTG) last posted its quarterly earnings data on Friday, August 14th. The company reported ($0.49) earnings per share (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%. On average, research analysts forecast that Newton Golf will post -0.48 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Newton Golf Company Profile

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.