Sacks Parente Golf, Inc. (NASDAQ:SPGC) Sees Large Decrease in Short Interest

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

Sacks Parente Golf Stock Performance

NASDAQ:SPGC opened at $0.19 on Tuesday. The stock has a market capitalization of $346,940.00, a price-to-earnings ratio of -0.05 and a beta of 4.12. Sacks Parente Golf has a 1 year low of $0.10 and a 1 year high of $6.91. The stock has a fifty day moving average price of $0.49 and a two-hundred day moving average price of $1.59.

Sacks Parente Golf announced that its Board of Directors has approved a share buyback plan on Monday, February 3rd that allows the company to repurchase $1.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 85.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Sacks Parente Golf

In other news, Director Brett Widney Hoge acquired 100,000 shares of Sacks Parente Golf stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average price of $0.31 per share, for a total transaction of $31,000.00. Following the completion of the transaction, the director now directly owns 186,014 shares in the company, 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 filing with the Securities & Exchange Commission, which is accessible through this link. Insiders purchased a total of 163,000 shares of company stock valued at $53,080 in the last ninety days. Insiders own 8.37% of the company’s stock.

Hedge Funds 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 position in shares of Sacks Parente Golf, Inc. (NASDAQ:SPGC) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund 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 reporting period. Institutional investors and hedge funds own 0.49% of the company’s stock.

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.