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

TruGolf Holdings, Inc. (NASDAQ:TRUG) was the recipient of a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 202,000 shares, a decrease of 59.9% from the February 28th total of 503,700 shares. Based on an average daily volume of 3,560,000 shares, the short-interest ratio is presently 0.1 days. Approximately 1.0% of the shares of the stock are sold short.

Hedge Funds Weigh In On TruGolf

An institutional investor recently bought a new position in TruGolf stock. Clear Street Derivatives LLC bought a new position in TruGolf Holdings, Inc. (NASDAQ:TRUG) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 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 holdings, making the stock its 25th biggest position. Clear Street Derivatives LLC owned approximately 0.23% of TruGolf at the end of the most recent quarter. 3.24% of the stock is owned by institutional investors.

TruGolf Stock Down 1.2 %

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on TRUG shares. Maxim Group initiated coverage on shares of TruGolf in a report on Thursday, December 19th. They issued a “buy” rating and a $2.00 price target for the company. Singular Research raised shares of TruGolf to a “moderate buy” rating in a research note on Monday, January 27th.

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.