TruGolf (NASDAQ:TRUG) Trading Up 2.6% – Still a Buy?

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

Wall Street Analysts Forecast Growth

TRUG has been the topic of a number of recent research reports. Singular Research raised shares of TruGolf to a “moderate buy” rating in a research note on Monday, January 27th. Maxim Group initiated coverage on shares of TruGolf in a research report on Thursday, December 19th. They issued a “buy” rating and a $2.00 price target on the stock.

TruGolf Price Performance

The company has a fifty day moving average of $0.51 and a 200-day moving average of $0.69. The firm has a market cap of $4.63 million, a P/E ratio of -0.93 and a beta of -0.89.

Institutional Trading of TruGolf

An institutional investor recently bought a new position in TruGolf stock. Clear Street Derivatives LLC bought a new stake in TruGolf Holdings, Inc. (NASDAQ:TRUG) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 30,370 shares of the company’s stock, valued at approximately $29,000. TruGolf makes up approximately 0.0% of Clear Street Derivatives LLC’s portfolio, making the stock its 25th largest position. Clear Street Derivatives LLC owned about 0.23% of TruGolf at the end of the most recent quarter. Institutional investors and hedge funds 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.