Shares of TrueCar, Inc. (NASDAQ:TRUE - Get Free Report) have received an average rating of "Hold" from the six brokerages that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $3.19.
A number of research analysts recently issued reports on the stock. Lake Street Capital downgraded shares of TrueCar from a "buy" rating to a "hold" rating and dropped their target price for the company from $5.00 to $1.50 in a research report on Tuesday, May 6th. Needham & Company LLC dropped their price objective on shares of TrueCar from $4.00 to $2.75 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. B. Riley reiterated a "neutral" rating on shares of TrueCar in a research note on Wednesday, May 7th. Wall Street Zen downgraded shares of TrueCar from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. Finally, Citigroup cut shares of TrueCar to an "underweight" rating in a research note on Thursday, March 27th.
Read Our Latest Stock Report on TRUE
Institutional Trading of TrueCar
Institutional investors have recently made changes to their positions in the stock. R Squared Ltd bought a new position in shares of TrueCar in the 4th quarter worth approximately $49,000. Straightline Group LLC purchased a new position in shares of TrueCar in the fourth quarter valued at $69,000. Algert Global LLC purchased a new position in shares of TrueCar in the first quarter valued at $30,000. Strs Ohio purchased a new position in shares of TrueCar in the first quarter valued at $38,000. Finally, ProShare Advisors LLC raised its position in TrueCar by 49.0% during the fourth 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 during the period. Hedge funds and other institutional investors own 79.44% of the company's stock.
TrueCar Price Performance
Shares of TrueCar stock traded down $0.05 during trading on Friday, reaching $1.47. 69,580 shares of the company traded hands, compared to its average volume of 298,037. TrueCar has a 1-year low of $1.05 and a 1-year high of $4.62. The company has a 50 day moving average price of $1.49 and a 200-day moving average price of $2.67. The firm has a market capitalization of $128.45 million, a PE ratio of -4.31 and a beta of 2.13.
About TrueCar
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Get Free ReportTrueCar, 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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