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In recent trading activity, Brett Hoge, a director at Newton Golf Company, Inc. (NASDAQ:NWTG), purchased 4,742 shares of the company’s common stock. The insider purchase comes as the stock has declined nearly 99% over the past year, according to InvestingPro data. The acquisition, which took place on April 14, 2025, was executed at a price of $1.85 per share, amounting to a total transaction value of $8,772. Following this purchase, Hoge’s total ownership in the company increased to 15,892 shares. Newton Golf Company, formerly known as Sacks Parente Golf , Inc., continues to operate in the manufacturing sector with impressive gross profit margins of 66%. The company, currently valued at $8.1 million, shows mixed signals - while maintaining strong margins, InvestingPro analysis indicates the stock is currently undervalued, with 18 additional key insights available to subscribers.
In other recent news, Newton Golf Company, formerly known as Sacks Parente Golf, has implemented a 1-for-30 reverse stock split, a move approved by its Board of Directors. This corporate action is part of a broader restructuring strategy that includes a name change to Newton Golf Company, reflecting a new chapter in the company’s evolution. The reverse stock split is designed to consolidate shares and address the issue of Series B Warrants exceeding the number of authorized shares. This change is expected to impact the number of outstanding shares and potentially affect the stock’s market price. Additionally, the company completed a public offering in December 2024, raising approximately $8.4 million to support strategic initiatives and product development. The company’s new ticker symbol, NWTG, will be effective following the necessary regulatory procedures. Newton Golf’s recent developments are aimed at strengthening its market position and brand recognition. These changes have been documented in filings with the United States Securities and Exchange Commission.
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