TruGolf (NASDAQ:TRUG) Trading Up 2.6% – Here’s Why

Shares of TruGolf Holdings, Inc. (NASDAQ:TRUG) shot up 2.6% during trading on Thursday . The company traded as high as $0.44 and last traded at $0.39. 1,269,801 shares changed hands during trading, a decline of 66% from the average session volume of 3,700,766 shares. The stock had previously closed at $0.38.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Maxim Group assumed coverage on shares of TruGolf in a report on Thursday, December 19th. They set a “buy” rating and a $2.00 target price for the company. Singular Research raised TruGolf to a “moderate buy” rating in a research note on Monday, January 27th.

TruGolf Price Performance

The firm has a market capitalization of $4.63 million, a price-to-earnings ratio of -0.93 and a beta of -0.89. The stock has a fifty day moving average of $0.51 and a two-hundred day moving average of $0.69.

Institutional Investors Weigh In On TruGolf

An institutional investor recently bought a new position in TruGolf stock. Clear Street Derivatives LLC bought a new stake in shares of TruGolf Holdings, Inc. (NASDAQ:TRUG) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 30,370 shares of the company’s stock, valued at approximately $29,000. TruGolf accounts for about 0.0% of Clear Street Derivatives LLC’s investment portfolio, making the stock its 25th biggest holding. Clear Street Derivatives LLC owned approximately 0.23% of TruGolf at the end of the most recent quarter. Institutional investors own 3.24% of the company’s stock.

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.