TruGolf Holdings, Inc. (NASDAQ:TRUG) Short Interest Up 4,196.5% in December

TruGolf Holdings, Inc. (NASDAQ:TRUG) was the recipient of a significant increase in short interest during 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 trading volume, of 3,830,000 shares, the days-to-cover ratio is currently 0.3 days. Approximately 18.0% of the shares of the stock are sold short.

TruGolf Trading Up 64.2 %

NASDAQ:TRUG opened at $0.72 on Friday. The stock’s 50-day moving average is $0.54 and its 200-day moving average is $0.90. The stock has a market cap of $8.59 million, a P/E ratio of -1.72 and a beta of -0.75. TruGolf has a 1-year low of $0.35 and a 1-year high of $11.82.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On TruGolf

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) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 30,370 shares of the company’s stock, valued at approximately $29,000. TruGolf accounts for 0.0% of Clear Street Derivatives LLC’s investment 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 (SEC). 3.24% of the stock is owned by institutional investors and hedge funds.

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.