TruGolf Holdings, Inc. (NASDAQ:TRUG) Short Interest Update

TruGolf Holdings, Inc. (NASDAQ:TRUG) saw a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 3,360,000 shares, a growth of 384.6% from the May 15th total of 693,300 shares. Approximately 18.9% of the company’s stock are short sold. Based on an average daily volume of 3,740,000 shares, the short-interest ratio is currently 0.9 days.

TruGolf Trading Down 3.5%

Shares of NASDAQ TRUG opened at $0.22 on Friday. The business has a 50 day simple moving average of $0.26 and a 200-day simple moving average of $0.40. The company has a market capitalization of $9.15 million, a price-to-earnings ratio of -0.52 and a beta of -0.74. TruGolf has a twelve month low of $0.17 and a twelve month high of $1.47.

TruGolf (NASDAQ:TRUG) last issued its earnings results on Thursday, May 15th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.04). The business had revenue of $5.39 million during the quarter, compared to analysts’ expectations of $5.24 million. As a group, equities analysts predict that TruGolf will post -0.25 earnings per share for the current year.

TruGolf announced that its board has initiated a share repurchase plan on Thursday, May 29th that permits the company to buyback $2.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 26.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management 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.