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

TruGolf Holdings, Inc. (NASDAQ:TRUG) was the target of a significant 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. Currently, 18.0% of the shares of the company are sold short. Based on an average trading volume of 3,830,000 shares, the short-interest ratio is presently 0.3 days.

Wall Street Analyst Weigh In

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

TruGolf Stock Performance

NASDAQ:TRUG traded up $0.05 during trading hours on Friday, hitting $0.78. The company’s stock had a trading volume of 9,834,228 shares, compared to its average volume of 1,508,045. TruGolf has a 52-week low of $0.35 and a 52-week high of $11.82. The company has a market capitalization of $9.23 million, a PE ratio of -1.85 and a beta of -0.75. The business’s 50-day moving average is $0.54 and its two-hundred day moving average is $0.90.

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) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 30,370 shares of the company’s stock, valued at approximately $29,000. TruGolf comprises approximately 0.0% of Clear Street Derivatives LLC’s holdings, making the stock its 25th biggest position. Clear Street Derivatives LLC owned approximately 0.23% of TruGolf at the end of the most recent quarter. 3.24% of the stock is currently owned by hedge funds and other institutional investors.

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.