TruGolf Holdings, Inc. (NASDAQ:TRUG) Sees Large Increase in Short Interest

TruGolf Holdings, Inc. (NASDAQ:TRUG) was the target of a large increase in short interest in 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. Approximately 18.0% of the shares of the stock are short sold. Based on an average daily volume of 3,830,000 shares, the short-interest ratio is currently 0.3 days.

Wall Street Analyst Weigh In

Separately, Maxim Group started coverage on TruGolf in a research note on Thursday, December 19th. They issued a “buy” rating and a $2.00 target price on the stock.

TruGolf Stock Up 7.4 %

Shares of NASDAQ:TRUG traded up $0.05 during trading on Friday, reaching $0.78. The stock had a trading volume of 9,834,228 shares, compared to its average volume of 1,508,045. The stock has a market cap of $9.23 million, a P/E ratio of -1.85 and a beta of -0.75. TruGolf has a fifty-two week low of $0.35 and a fifty-two week high of $11.82. The business has a fifty day moving average price of $0.54 and a 200-day moving average price of $0.90.

Hedge Funds Weigh In On TruGolf

A hedge fund recently bought a new stake in TruGolf stock. Clear Street Derivatives LLC bought a new position in TruGolf Holdings, Inc. (NASDAQ:TRUG) during the 3rd quarter, according to its most recent Form 13F 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 comprises approximately 0.0% of Clear Street Derivatives LLC’s portfolio, making the stock its 25th largest position. Clear Street Derivatives LLC owned approximately 0.23% of TruGolf as of its most recent SEC filing. 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.