Maxim Group Initiates Coverage on TruGolf (NASDAQ:TRUG)

Analysts at Maxim Group began coverage on shares of TruGolf (NASDAQ:TRUG) in a note issued to investors on Thursday,Benzinga reports. The firm set a “buy” rating and a $2.00 price target on the stock. Maxim Group’s target price would suggest a potential upside of 436.34% from the company’s previous close.

TruGolf Stock Down 6.1 %

TruGolf stock opened at $0.37 on Thursday. TruGolf has a 12-month low of $0.35 and a 12-month high of $11.82. The stock has a 50-day simple moving average of $0.58 and a 200 day simple moving average of $0.92. The stock has a market capitalization of $4.43 million, a price-to-earnings ratio of -0.89 and a beta of -0.75.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in TruGolf stock. Clear Street Derivatives LLC acquired a new position in TruGolf Holdings, Inc. (NASDAQ:TRUG) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 30,370 shares of the company’s stock, valued at approximately $29,000. TruGolf accounts for approximately 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 as of its most recent SEC filing. Hedge funds and other institutional investors own 3.24% of the company’s stock.

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.