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In a recent transaction, Gregor Alasdair Campbell, the Executive Chairman of Newton Golf Company, Inc. (NASDAQ:NWTG), acquired 32,500 shares of the company's common stock. The purchase, executed on April 7, 2025, was made at a price of $3.02 per share, amounting to a total value of $98,150. Following this acquisition, Campbell's total direct ownership increased to 35,944 shares. The insider purchase comes as NWTG trades near its 52-week low of $1.35, with the stock down 98% over the past year. While the company maintains a strong gross profit margin of 66% and holds more cash than debt, InvestingPro analysis indicates the stock is currently fairly valued. Track insider transactions and access 18 additional investment insights with InvestingPro.
In other recent news, Newton Golf Company, formerly known as Sacks Parente Golf , has completed a corporate rebranding, including a name change and a new ticker symbol, NWTG, following a 1-for-30 reverse stock split. This strategic move, as detailed in an 8-K filing with the United States Securities and Exchange Commission, aims to consolidate the company's shares and potentially enhance its stock price by reducing the number of shares outstanding. The company successfully raised approximately $8.4 million through a public offering in December 2024, intended to support strategic initiatives and product development. Shareholders need not take any action regarding the reverse stock split, as shareholdings will be adjusted automatically. The company's common stock will continue to trade on Nasdaq with a new CUSIP number reflecting the split. Additionally, the company faced challenges in holding a special stockholders' meeting due to a lack of quorum, leading to multiple adjournments. The meeting, initially scheduled for February 11, 2025, was postponed to February 26, 2025, to address key corporate decisions. Investors and analysts are closely monitoring these developments, as they could impact the company's market position and stock performance.
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