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

TruGolf Holdings, Inc. (NASDAQ:TRUG) saw 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 shares of the company are short sold. Based on an average daily volume of 5,650,000 shares, the short-interest ratio is presently 0.0 days.

Institutional Trading of TruGolf

A hedge fund recently bought a new stake in TruGolf stock. Clear Street Derivatives LLC acquired a new position in TruGolf Holdings, Inc. (NASDAQ:TRUG) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 30,370 shares of the company’s stock, valued at approximately $29,000. TruGolf makes up about 0.0% of Clear Street Derivatives LLC’s holdings, making the stock its 25th largest holding. Clear Street Derivatives LLC owned about 0.23% of TruGolf as of its most recent filing with the Securities & Exchange Commission. 3.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

TruGolf Stock Up 9.1 %

TRUG traded up $0.04 on Friday, hitting $0.42. The company had a trading volume of 1,135,107 shares, compared to its average volume of 1,516,466. The company has a market cap of $4.99 million, a PE 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 business’s fifty day simple moving average is $0.53 and its 200 day simple moving average is $0.77.

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.