TruGolf Holdings, Inc. (NASDAQ:TRUG) Short Interest Up 147.4% in February

TruGolf Holdings, Inc. (NASDAQ:TRUG) was the target of a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 503,700 shares, a growth of 147.4% from the February 13th total of 203,600 shares. Currently, 2.4% of the shares of the company are sold short. Based on an average trading volume of 6,980,000 shares, the days-to-cover ratio is currently 0.1 days.

TruGolf Price Performance

NASDAQ:TRUG opened at $0.39 on Thursday. TruGolf has a 12-month low of $0.32 and a 12-month high of $2.27. The firm has a market capitalization of $4.59 million, a P/E ratio of -0.92 and a beta of -0.89. The business has a 50 day simple moving average of $0.49 and a 200 day simple moving average of $0.66.

Wall Street Analysts Forecast Growth

TRUG has been the subject of a number of research analyst reports. Singular Research upgraded TruGolf to a “moderate buy” rating in a report on Monday, January 27th. Maxim Group assumed coverage on TruGolf in a research report on Thursday, December 19th. They set a “buy” rating and a $2.00 price objective for the company.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in TruGolf stock. Clear Street Derivatives LLC purchased a new position in shares of TruGolf Holdings, Inc. (NASDAQ:TRUG) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund 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 portfolio, making the stock its 25th biggest position. Clear Street Derivatives LLC owned about 0.23% of TruGolf as of its most recent SEC filing. 3.24% of the stock is owned by hedge funds and other institutional investors.

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.