TruGolf Holdings, Inc. (NASDAQ:TRUG) Short Interest Down 59.9% in March

TruGolf Holdings, Inc. (NASDAQ:TRUG) saw a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 202,000 shares, a decline of 59.9% from the February 28th total of 503,700 shares. Currently, 1.0% of the company’s stock are short sold. Based on an average daily volume of 3,560,000 shares, the days-to-cover ratio is currently 0.1 days.

TruGolf Stock Performance

Shares of TRUG opened at $0.39 on Friday. The company has a market capitalization of $4.58 million, a PE ratio of -0.92 and a beta of -0.89. The company’s 50 day moving average price is $0.44 and its 200 day moving average price is $0.61. TruGolf has a 52 week low of $0.32 and a 52 week high of $1.86.

Analyst Ratings Changes

Several analysts have recently commented on the company. Maxim Group initiated coverage on TruGolf in a research report on Thursday, December 19th. They issued a “buy” rating and a $2.00 target price for the company. Singular Research upgraded TruGolf to a “moderate buy” rating in a research report on Monday, January 27th.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in TruGolf stock. Clear Street Derivatives LLC acquired a new stake in shares of TruGolf Holdings, Inc. (NASDAQ:TRUG) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 30,370 shares of the company’s stock, valued at approximately $29,000. TruGolf comprises about 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 as of its most recent filing with the Securities and Exchange Commission. 3.24% of the stock is currently owned by institutional investors and hedge funds.

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.