TruGolf Holdings, Inc. (NASDAQ:TRUG) Short Interest Down 64.4% in January

TruGolf Holdings, Inc. (NASDAQ:TRUG) was the target of a large drop in short interest during the month of January. As of January 15th, there was short interest totalling 351,700 shares, a drop of 64.4% from the December 31st total of 988,200 shares. Approximately 6.4% of the company’s shares are sold short. Based on an average daily trading volume, of 5,190,000 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Investors Weigh In On TruGolf

A hedge fund recently bought a new stake in TruGolf stock. Clear Street Derivatives LLC bought a new position in shares of TruGolf Holdings, Inc. (NASDAQ:TRUG) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 30,370 shares of the company’s stock, valued at approximately $29,000. TruGolf makes up 0.0% of Clear Street Derivatives LLC’s portfolio, making the stock its 25th largest position. Clear Street Derivatives LLC owned 0.23% of TruGolf at the end of the most recent reporting period. Institutional investors and hedge funds own 3.24% of the company’s stock.

Wall Street Analyst Weigh In

TRUG has been the subject of several recent research reports. Maxim Group started coverage on shares of TruGolf in a research report on Thursday, December 19th. They set a “buy” rating and a $2.00 price target on the stock. Singular Research upgraded TruGolf to a “moderate buy” rating in a report on Monday.

TruGolf Stock Performance

NASDAQ:TRUG traded up $0.05 during trading hours on Wednesday, reaching $0.52. The stock had a trading volume of 738,418 shares, compared to its average volume of 3,131,050. The stock has a market cap of $6.21 million, a P/E ratio of -1.24 and a beta of -0.85. The stock has a 50 day simple moving average of $0.54 and a 200 day simple moving average of $0.82. TruGolf has a 12-month low of $0.35 and a 12-month high of $8.39.

About TruGolf

TruGolf Holdings, Inc, through its subsidiary, engages in the development and sale of indoor golf simulator hardware under the TruGolf Nevada brand for residential and commercial markets in the United States. It also provides E6 Connect software for use on other companies' hardware. The company was founded in 1982 and is headquartered in Centerville, Utah.