TruGolf Holdings, Inc. (NASDAQ:TRUG) Short Interest Update

TruGolf Holdings, Inc. (NASDAQ:TRUG) was the recipient of a significant drop in short interest in December. As of December 31st, there was short interest totalling 351,700 shares, a drop of 64.4% from the December 15th total of 988,200 shares. Based on an average daily volume of 5,190,000 shares, the days-to-cover ratio is currently 0.1 days. Approximately 6.4% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

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

TruGolf Stock Up 6.2 %

Shares of TRUG stock traded up $0.04 during trading hours on Wednesday, hitting $0.60. 1,015,755 shares of the company’s stock traded hands, compared to its average volume of 4,054,848. The stock has a market cap of $7.12 million, a PE ratio of -1.43 and a beta of -0.85. The stock’s 50 day simple moving average is $0.53 and its 200 day simple moving average is $0.85. TruGolf has a 12 month low of $0.35 and a 12 month high of $10.00.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in TruGolf stock. Clear Street Derivatives LLC purchased a new stake in TruGolf Holdings, Inc. (NASDAQ:TRUG) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 30,370 shares of the company’s stock, valued at approximately $29,000. TruGolf accounts for about 0.0% of Clear Street Derivatives LLC’s holdings, making the stock its 25th largest position. Clear Street Derivatives LLC owned 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.

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.