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

TruGolf Holdings, Inc. (NASDAQ:TRUG) was the recipient of a significant increase in short interest during the month of May. As of May 31st, there was short interest totalling 3,360,000 shares, an increase of 384.6% from the May 15th total of 693,300 shares. Currently, 18.9% of the company’s shares are sold short. Based on an average trading volume of 3,740,000 shares, the days-to-cover ratio is presently 0.9 days.

TruGolf Stock Down 3.5%

Shares of TruGolf stock opened at $0.22 on Friday. TruGolf has a fifty-two week low of $0.17 and a fifty-two week high of $1.47. The business’s fifty day moving average is $0.26 and its two-hundred day moving average is $0.40. The firm has a market cap of $9.15 million, a PE ratio of -0.52 and a beta of -0.74.

TruGolf (NASDAQ:TRUG) last issued its quarterly earnings results on Thursday, May 15th. The company reported ($0.09) earnings per share (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. Equities research analysts anticipate that TruGolf will post -0.25 EPS for the current year.

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

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.