TrueCar (NASDAQ:TRUE) Stock Price Crosses Above Fifty Day Moving Average - Should You Sell?

Key Points

• TrueCar's stock price has recently crossed above its 50-day moving average of $1.87, reaching a high of $2.03 with a trading volume of 324,560 shares.
• Analysts have cut their price targets for TrueCar, with Needham lowering its target from $4.00 to $2.75, while Lake Street Capital set a price objective of $1.50.
• Institutional investors hold 79.44% of TrueCar's stock, with JPMorgan Chase increasing its stake by 113.0% during the fourth quarter.

TrueCar, Inc. (NASDAQ:TRUE - Get Free Report)'s share price crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $1.87 and traded as high as $2.03. TrueCar shares last traded at $2.03, with a volume of 324,560 shares traded.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on TRUE shares. Needham & Company LLC decreased their price objective on shares of TrueCar from $4.00 to $2.75 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Lake Street Capital lowered shares of TrueCar from a "buy" rating to a "hold" rating and dropped their price objective for the company from $5.00 to $1.50 in a research note on Tuesday, May 6th. B. Riley restated a "neutral" rating on shares of TrueCar in a research note on Wednesday, May 7th. Finally, Wall Street Zen downgraded shares of TrueCar from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $3.19.

TrueCar Stock Up 7.6%

The firm has a market cap of $187.49 million, a PE ratio of -6.24 and a beta of 2.03. The company's fifty day moving average price is $1.89 and its two-hundred day moving average price is $1.83.

Institutional Trading of TrueCar

Institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its stake in shares of TrueCar by 3.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 143,749 shares of the technology company's stock valued at $537,000 after acquiring an additional 5,089 shares during the last quarter. ProShare Advisors LLC raised its stake in 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 during the last quarter. Engineers Gate Manager LP raised its stake 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 during the last quarter. Two Sigma Advisers LP raised its stake in TrueCar by 43.5% in the 4th quarter. Two Sigma Advisers LP now owns 33,000 shares of the technology company's stock valued at $123,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in TrueCar by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 50,275 shares of the technology company's stock valued at $188,000 after purchasing an additional 10,950 shares during the last quarter. Hedge funds and other institutional investors 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.