TruGolf (NASDAQ:TRUG) Lowered to Sell Rating by Wall Street Zen

TruGolf (NASDAQ:TRUG) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

TruGolf Stock Performance

NASDAQ:TRUG opened at $5.95 on Friday. TruGolf has a 1 year low of $5.15 and a 1 year high of $73.50. The stock has a market capitalization of $4.94 million, a price-to-earnings ratio of -0.17 and a beta of -0.92. The stock has a fifty day moving average price of $10.39 and a two-hundred day moving average price of $18.11.

TruGolf (NASDAQ:TRUG) last announced its quarterly earnings results on Thursday, May 15th. The company reported ($4.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.50) by ($2.00). The firm had revenue of $5.39 million during the quarter, compared to analyst estimates of $5.24 million. On average, analysts predict that TruGolf will post -0.25 EPS for the current year.

TruGolf declared that its Board of Directors has authorized a share repurchase plan on Thursday, May 29th that permits the company to repurchase $2.00 million in shares. This repurchase authorization permits the company to reacquire up to 26.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

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.