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In a recent move, Brett Hoge, a director at Newton Golf Company, Inc. (NASDAQ:NWTG), purchased 11,141 shares of the company’s common stock. The transaction, which took place on April 15, 2025, was executed at a price of $1.85 per share, amounting to a total investment of $20,610. The purchase comes as the stock trades near its 52-week low of $1.35, having declined nearly 99% over the past year. According to InvestingPro analysis, the stock’s RSI indicates oversold conditions, potentially signaling a buying opportunity. Following this acquisition, Hoge’s total holdings in Newton Golf Company have increased to 27,033 shares. This purchase reflects a significant addition to his stake in the company, indicating his ongoing confidence in its prospects despite current challenges. InvestingPro analysis reveals the company maintains impressive gross profit margins of 66% while holding more cash than debt on its balance sheet. Want deeper insights? InvestingPro offers 18 additional exclusive tips for NWTG.
In other recent news, Newton Golf Company, formerly known as Sacks Parente Golf , has completed a corporate rebranding and will now trade on the Nasdaq Capital Market under the ticker symbol NWTG. This change follows a 1-for-30 reverse stock split approved by the Board of Directors. The reverse split aims to consolidate the company’s shares and address the issue of Series B Warrants exceeding the number of authorized shares. The company recently raised approximately $8.4 million through a public offering to support strategic initiatives and product development. The rebranding aligns with Newton Golf’s focus on advanced physics and precision engineering in golf technology. Despite these changes, shareholders’ rights remain unaffected, and shareholdings will be adjusted automatically. The company’s decision to rebrand and implement a reverse stock split is part of a broader strategy to strengthen its market position. These developments were disclosed in an 8-K filing with the United States Securities and Exchange Commission.
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