TruGolf (NASDAQ:TRUG) Coverage Initiated at Maxim Group

Equities researchers at Maxim Group started coverage on shares of TruGolf (NASDAQ:TRUG) in a research note issued on Thursday,Benzinga reports. The firm set a “buy” rating and a $2.00 price target on the stock. Maxim Group’s price objective suggests a potential upside of 365.12% from the stock’s current price.

TruGolf Stock Down 8.5 %

TruGolf stock opened at $0.43 on Thursday. The stock has a market cap of $5.11 million, a price-to-earnings ratio of -1.02 and a beta of -0.75. TruGolf has a 12-month low of $0.35 and a 12-month high of $11.82. The business’s 50-day simple moving average is $0.56 and its 200 day simple moving average is $0.92.

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) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 30,370 shares of the company’s stock, valued at approximately $29,000. TruGolf accounts for 0.0% of Clear Street Derivatives LLC’s portfolio, making the stock its 25th largest holding. Clear Street Derivatives LLC owned 0.23% of TruGolf as of its most recent filing with the Securities and Exchange Commission. 3.24% of the stock is currently owned by 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.