Sacks Parente Golf, Inc. (NASDAQ:SPGC) Short Interest Update

Sacks Parente Golf, Inc. (NASDAQ:SPGC) saw a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 2,610,000 shares, an increase of 16,848.1% from the January 15th total of 15,400 shares. Based on an average trading volume of 4,770,000 shares, the short-interest ratio is currently 0.5 days.

Insider Activity at Sacks Parente Golf

In related news, Director Brett Widney Hoge bought 100,000 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were acquired at an average cost of $0.31 per share, with a total value of $31,000.00. Following the completion of the acquisition, the director now owns 186,014 shares of the company’s stock, valued at $57,664.34. The trade was a 116.26 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired a total of 170,000 shares of company stock valued at $64,530 in the last three months. Company insiders own 8.37% of the company’s stock.

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 position in Sacks Parente Golf, Inc. (NASDAQ:SPGC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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

Sacks Parente Golf stock opened at $0.60 on Friday. The business’s fifty day simple moving average is $0.52 and its two-hundred day simple moving average is $1.93. Sacks Parente Golf has a 12 month low of $0.26 and a 12 month high of $7.90.

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

About Sacks Parente Golf

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.