Shares of TrueCar, Inc. (NASDAQ:TRUE - Get Free Report) crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $3.47 and traded as low as $1.87. TrueCar shares last traded at $1.88, with a volume of 372,690 shares traded.
Wall Street Analyst Weigh In
TRUE has been the subject of a number of recent analyst reports. Needham & Company LLC reduced their price objective on shares of TrueCar from $5.00 to $4.00 and set a "buy" rating for the company in a research report on Wednesday, February 19th. StockNews.com downgraded shares of TrueCar from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 28th. Finally, JPMorgan Chase & Co. downgraded shares of TrueCar from an "overweight" rating to a "neutral" rating in a research report on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $4.63.
Get Our Latest Report on TRUE
TrueCar Trading Down 3.8 %
The stock's 50-day moving average price is $2.98 and its two-hundred day moving average price is $3.47. The stock has a market capitalization of $152.70 million, a P/E ratio of -5.15 and a beta of 1.72.
TrueCar (NASDAQ:TRUE - Get Free Report) last released its earnings results on Tuesday, February 18th. The technology company reported ($0.07) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.01). The company had revenue of $46.21 million for the quarter, compared to the consensus estimate of $47.30 million. TrueCar had a negative net margin of 17.68% and a negative return on equity of 17.54%. On average, equities research analysts predict that TrueCar, Inc. will post -0.19 earnings per share for the current year.
Institutional Trading of TrueCar
Institutional investors have recently modified their holdings of the business. Intech Investment Management LLC purchased a new stake in shares of TrueCar during the 3rd quarter valued at approximately $36,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of TrueCar during the 3rd quarter valued at approximately $43,000. R Squared Ltd purchased a new stake in shares of TrueCar during the 4th quarter valued at approximately $49,000. Straightline Group LLC purchased a new stake in shares of TrueCar during the 4th quarter valued at approximately $69,000. Finally, ProShare Advisors LLC lifted its stake in shares of TrueCar by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 24,123 shares of the technology company's stock valued at $90,000 after buying an additional 7,938 shares in the last quarter. 79.44% of the stock is currently owned by hedge funds and other institutional investors.
About TrueCar
(
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TrueCar, Inc operates as an internet-based information, technology, and communication services company in the United States. It operates its platform on the TrueCar website and mobile applications. Its platform enables users to obtain market-based pricing data on new and used cars, and to connect with its network of TrueCar certified dealers.
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