TruGolf (NASDAQ:TRUG) to Repurchase $2.00 million in Stock

TruGolf (NASDAQ:TRUG) announced that its board has approved a share buyback program on Thursday, May 29th, RTT News reports. The company plans to buyback $2.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 26.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

TruGolf Price Performance

NASDAQ TRUG opened at $0.23 on Friday. The firm has a market cap of $9.47 million, a P/E ratio of -0.54 and a beta of -0.71. The stock’s 50-day moving average is $0.28 and its 200-day moving average is $0.42. TruGolf has a one year low of $0.17 and a one year high of $1.52.

TruGolf (NASDAQ:TRUG) last released its quarterly 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 firm had revenue of $5.39 million during the quarter, compared to the consensus estimate of $5.24 million. Equities analysts anticipate that TruGolf will post -0.25 EPS for the current year.

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.