TruGolf (NASDAQ:TRUG) Announces Quarterly Earnings Results

TruGolf (NASDAQ:TRUG) released its earnings results on Tuesday. The company reported ($19.69) EPS for the quarter, missing analysts’ consensus estimates of ($2.50) by ($17.19), Zacks reports. The business had revenue of $4.31 million during the quarter, compared to the consensus estimate of $4.28 million.

TruGolf Stock Down 1.9%

TruGolf stock opened at $4.23 on Thursday. TruGolf has a 52 week low of $3.95 and a 52 week high of $73.50. The firm’s 50-day simple moving average is $5.91 and its 200 day simple moving average is $12.86. The firm has a market capitalization of $3.68 million, a PE ratio of -0.09 and a beta of -0.91.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded shares of TruGolf from a “hold” rating to a “sell” rating in a report on Saturday, July 5th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, TruGolf presently has an average rating of “Buy” and an average price target of $100.00.

TruGolf announced that its board has approved a stock repurchase program on Thursday, May 29th that allows the company to repurchase $2.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 26.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

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.