TruGolf Holdings, Inc. (NASDAQ:TRUG) Sees Significant Decrease in Short Interest

TruGolf Holdings, Inc. (NASDAQ:TRUG) was the recipient of a significant decline in short interest in January. As of January 31st, there was short interest totalling 165,200 shares, a decline of 37.3% from the January 15th total of 263,500 shares. Currently, 2.1% of the company’s stock are short sold. Based on an average daily volume of 5,650,000 shares, the short-interest ratio is presently 0.0 days.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in TruGolf stock. Clear Street Derivatives LLC purchased a new stake in TruGolf Holdings, Inc. (NASDAQ:TRUG) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 30,370 shares of the company’s stock, valued at approximately $29,000. TruGolf comprises 0.0% of Clear Street Derivatives LLC’s investment portfolio, making the stock its 25th biggest position. Clear Street Derivatives LLC owned approximately 0.23% of TruGolf at the end of the most recent quarter. Hedge funds and other institutional investors own 3.24% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Maxim Group assumed coverage on shares of TruGolf in a research report on Thursday, December 19th. They issued a “buy” rating and a $2.00 price target for the company. Singular Research raised shares of TruGolf to a “moderate buy” rating in a research report on Monday, January 27th.

TruGolf Stock Up 9.1 %

NASDAQ TRUG traded up $0.04 during trading hours on Friday, hitting $0.42. 1,135,107 shares of the stock were exchanged, compared to its average volume of 1,516,466. The company has a market cap of $4.99 million, a price-to-earnings ratio of -1.00 and a beta of -0.90. TruGolf has a 12-month low of $0.35 and a 12-month high of $2.27. The stock has a 50-day moving average of $0.53 and a 200 day moving average of $0.77.

TruGolf Company Profile

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.