TrueCar, Inc. (NASDAQ:TRUE) Short Interest Update

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 large decrease in short interest in August. As of August 31st, there was short interest totaling 935,800 shares, a decrease of 25.1% from the August 15th total of 1,250,000 shares. Based on an average trading volume of 352,400 shares, the short-interest ratio is currently 2.7 days. Currently, 1.4% of the company's shares are short sold. Currently, 1.4% of the company's shares are short sold. Based on an average trading volume of 352,400 shares, the short-interest ratio is currently 2.7 days.

TrueCar Trading Up 1.0%

TRUE traded up $0.03 during mid-day trading on Friday, hitting $2.42. 122,400 shares of the stock were exchanged, compared to its average volume of 354,944. The firm's fifty day moving average is $2.02 and its two-hundred day moving average is $1.76. TrueCar has a 1-year low of $1.05 and a 1-year high of $4.62. The company has a market cap of $213.58 million, a PE ratio of -7.11 and a beta of 1.97.

Hedge Funds Weigh In On TrueCar

Hedge funds have recently bought and sold shares of the company. Algert Global LLC acquired a new position in TrueCar during the 1st quarter worth about $30,000. Kapitalo Investimentos Ltda acquired a new stake in TrueCar in the 2nd quarter valued at about $35,000. Strs Ohio acquired a new stake in TrueCar in the 1st quarter valued at about $38,000. Tower Research Capital LLC TRC raised its position in TrueCar by 383.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 26,155 shares of the technology company's stock valued at $50,000 after purchasing an additional 20,746 shares in the last quarter. Finally, Engineers Gate Manager LP raised its position in TrueCar by 30.8% in the 2nd 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. Institutional investors and hedge funds own 79.44% of the company's stock.

TrueCar Company Profile

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.