Short Interest in TrueCar, Inc. (NASDAQ:TRUE) Decreases By 25.1%

Key Points

• Short interest in TrueCar, Inc. has decreased by 25.1%, falling from 1,250,000 shares to 935,800 shares as of August 31st.
• Institutional ownership now accounts for 79.44% of TrueCar's stock, with notable increases from firms such as Acadian Asset Management and Nuveen LLC.
• TrueCar's stock is currently trading at $2.27 with a market capitalization of approximately $200.41 million and a price-to-earnings ratio of -6.66.

TrueCar, Inc. (NASDAQ:TRUE - Get Free Report) was the recipient of a significant drop in short interest during the month of August. As of August 31st, there was short interest totaling 935,800 shares, a drop of 25.1% from the August 15th total of 1,250,000 shares. Approximately 1.4% of the company's shares are sold short. Based on an average trading volume of 352,400 shares, the short-interest ratio is currently 2.7 days. Based on an average trading volume of 352,400 shares, the short-interest ratio is currently 2.7 days. Approximately 1.4% of the company's shares are sold short.

TrueCar Price Performance

Shares of NASDAQ TRUE traded down $0.07 during mid-day trading on Friday, reaching $2.32. 637,884 shares of the company's stock traded hands, compared to its average volume of 426,022. TrueCar has a 1-year low of $1.05 and a 1-year high of $4.62. The stock has a market cap of $205.18 million, a P/E ratio of -6.82 and a beta of 1.97. The business has a 50-day simple moving average of $2.03 and a 200 day simple moving average of $1.76.

Institutional Trading of TrueCar

A number of hedge funds and other institutional investors have recently bought and sold shares of TRUE. ProShare Advisors LLC boosted its stake in shares of TrueCar by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 24,123 shares of the technology company's stock valued at $90,000 after purchasing an additional 7,938 shares in the last quarter. Engineers Gate Manager LP grew its holdings in shares of TrueCar by 30.8% in the second quarter. Engineers Gate Manager LP now owns 37,648 shares of the technology company's stock valued at $72,000 after purchasing an additional 8,875 shares in the last quarter. Two Sigma Advisers LP boosted its stake in TrueCar by 43.5% during the fourth quarter. Two Sigma Advisers LP now owns 33,000 shares of the technology company's stock worth $123,000 after buying an additional 10,000 shares during the period. Mackenzie Financial Corp raised its holdings in shares of TrueCar by 55.2% in the fourth quarter. Mackenzie Financial Corp now owns 34,044 shares of the technology company's stock valued at $127,000 after acquiring an additional 12,112 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in TrueCar by 8.4% in the first quarter. American Century Companies Inc. now owns 160,127 shares of the technology company's stock worth $253,000 after purchasing an additional 12,344 shares in the last quarter. Institutional investors own 79.44% of the company's stock.

About TrueCar

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.