Short Interest in TruGolf Holdings, Inc. (NASDAQ:TRUG) Declines By 59.9%

TruGolf Holdings, Inc. (NASDAQ:TRUG) was the recipient of a significant decline in short interest in 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. Approximately 1.0% of the shares of the company are short sold. Based on an average daily trading volume, of 3,560,000 shares, the short-interest ratio is presently 0.1 days.

Analysts Set New Price Targets

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

Institutional Trading of TruGolf

A hedge fund recently bought a new stake in TruGolf stock. Clear Street Derivatives LLC acquired a new position 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 biggest position. Clear Street Derivatives LLC owned approximately 0.23% of TruGolf as of its most recent SEC filing. Institutional investors and hedge funds own 3.24% of the company’s stock.

TruGolf Price Performance

NASDAQ TRUG opened at $0.39 on Thursday. The stock’s 50 day simple moving average is $0.44 and its 200 day simple moving average is $0.61. TruGolf has a one year low of $0.32 and a one year high of $1.86. The firm has a market cap of $4.65 million, a PE ratio of -0.93 and a beta of -0.89.

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.