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

TruGolf Holdings, Inc. (NASDAQ:TRUG) saw a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 988,200 shares, an increase of 4,196.5% from the November 30th total of 23,000 shares. Based on an average daily volume of 3,830,000 shares, the short-interest ratio is presently 0.3 days. Currently, 18.0% of the shares of the stock are sold short.

TruGolf Trading Up 40.6 %

NASDAQ TRUG traded up $0.18 on Thursday, hitting $0.62. 20,166,002 shares of the company were exchanged, compared to its average volume of 1,408,395. TruGolf has a 1-year low of $0.35 and a 1-year high of $11.82. The firm has a 50 day moving average of $0.54 and a two-hundred day moving average of $0.90. The company has a market cap of $7.36 million, a P/E ratio of -1.47 and a beta of -0.75.

Institutional Investors Weigh In On TruGolf

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

Wall Street Analyst Weigh In

Separately, Maxim Group assumed coverage on TruGolf in a research note on Thursday, December 19th. They set a “buy” rating and a $2.00 price objective for the company.

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.