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In a recent transaction, Brett Hoge, a director at Newton Golf Company, Inc. (NASDAQ:NWTG), acquired 4,117 shares of common stock on April 11, 2025. The purchase comes as the stock trades near its 52-week low, having declined 98.75% over the past year. According to InvestingPro data, the stock’s RSI indicates oversold conditions. The shares were purchased at a price of $1.85 each, amounting to a total transaction value of $7,616. Following this acquisition, Hoge’s total direct ownership stands at 11,150 shares. This transaction was disclosed in a Form 4 filing with the Securities and Exchange Commission. Despite recent price weakness, InvestingPro analysis shows Newton Golf maintains impressive gross margins of 66% and projects 51% revenue growth for FY2025. For deeper insights into insider trading patterns and 18 additional ProTips, consider an InvestingPro subscription.
In other recent news, Newton Golf Company, previously known as Sacks Parente Golf , Inc., has undergone a significant corporate transformation, including a name change and a reverse stock split. The company completed a 1-for-30 reverse stock split, a strategic move to consolidate shares and address the issue of its Series B Warrants, which exceeded the number of authorized shares available. Newton Golf’s recent financial activities also include a public offering completed in December 2024, raising approximately $8.4 million to support strategic initiatives and product development. The company announced its rebranding to align with its focus on advanced physics and precision engineering in golf technology. Trading on the Nasdaq under the new symbol NWTG, the changes reflect a new chapter in the company’s evolution. The company’s CEO, Greg Campbell, emphasized that these changes are part of a broader strategy to strengthen its market position. Additionally, the company has faced challenges in holding its special stockholders’ meeting due to a lack of quorum, with rescheduling efforts in place. These developments are part of the company’s ongoing efforts to enhance its market presence and operational capabilities.
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