Sacks Parente Golf, Inc. (NASDAQ:SPGC) Short Interest Down 27.6% in February

Sacks Parente Golf, Inc. (NASDAQ:SPGC) saw a large decline in short interest during the month of February. As of February 15th, there was short interest totalling 1,890,000 shares, a decline of 27.6% from the January 31st total of 2,610,000 shares. Based on an average daily volume of 8,430,000 shares, the days-to-cover ratio is currently 0.2 days.

Insider Buying and Selling at Sacks Parente Golf

In other news, Director Brett Widney Hoge purchased 100,000 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were bought at an average cost of $0.31 per share, for a total transaction of $31,000.00. Following the completion of the purchase, the director now directly owns 186,014 shares of the company’s stock, valued at approximately $57,664.34. This trade represents a 116.26 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have bought 163,000 shares of company stock worth $53,080 in the last ninety days. 8.37% of the stock is owned by insiders.

Institutional Investors Weigh In On Sacks Parente Golf

A hedge fund recently bought a new stake in Sacks Parente Golf stock. Renaissance Technologies LLC acquired a new stake in Sacks Parente Golf, Inc. (NASDAQ:SPGC) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 172,300 shares of the company’s stock, valued at approximately $72,000. Renaissance Technologies LLC owned about 9.44% of Sacks Parente Golf at the end of the most recent quarter. Institutional investors and hedge funds own 0.49% of the company’s stock.

Sacks Parente Golf Price Performance

NASDAQ SPGC opened at $0.19 on Tuesday. The stock has a 50-day moving average of $0.49 and a two-hundred day moving average of $1.59. Sacks Parente Golf has a 1-year low of $0.10 and a 1-year high of $6.91. The company has a market cap of $346,940.00, a P/E ratio of -0.05 and a beta of 4.12.

Sacks Parente Golf declared that its board has initiated a share buyback plan on Monday, February 3rd that authorizes the company to repurchase $1.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 85.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Sacks Parente Golf Company Profile

Sacks Parente Golf, Inc, a technology-forward golf company, manufactures and sells golf products. The company provides putting instruments, golf shafts, golf grips, and other golf-related products. It also offers online custom fitting programs. The company sells its products through e-commerce, distributors, wholesale customers, including pro-shops at golf courses and off-course retailers, sporting goods retailers, online retailers, third-party distributors, and through Club Champion Golf, as well as through mass merchants and corporate customers in the Americas, Asia, and Europe.