Wall Street Zen Upgrades TruGolf (NASDAQ:TRUG) to Hold

TruGolf (NASDAQ:TRUG) was upgraded by equities researchers at Wall Street Zen to a “hold” rating in a note issued to investors on Friday.

TruGolf Stock Performance

NASDAQ TRUG opened at $6.27 on Friday. TruGolf has a twelve month low of $5.15 and a twelve month high of $73.50. The stock has a market cap of $5.20 million, a price-to-earnings ratio of -0.18 and a beta of -0.74. The firm’s 50 day moving average price is $11.31 and its two-hundred day moving average price is $18.76.

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

TruGolf announced that its board has initiated a stock repurchase plan on Thursday, May 29th that allows the company to repurchase $2.00 million in shares. This repurchase authorization allows the company to reacquire up to 26.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are 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.