TrueCar, Inc. (NASDAQ:TRUE - Get Free Report) crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $2.02 and traded as low as $1.78. TrueCar shares last traded at $1.82, with a volume of 252,437 shares changing hands.
Analysts Set New Price Targets
Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of TrueCar in a research note on Saturday, September 27th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus target price of $3.19.
Check Out Our Latest Stock Report on TrueCar
TrueCar Stock Performance
The stock has a market cap of $160.96 million, a price-to-earnings ratio of -5.35 and a beta of 2.00. The company has a 50-day moving average of $2.02 and a 200-day moving average of $1.76.
Institutional Investors Weigh In On TrueCar
Several large investors have recently modified their holdings of TRUE. Acadian Asset Management LLC lifted its holdings in shares of TrueCar by 22.2% during the first quarter. Acadian Asset Management LLC now owns 2,753,300 shares of the technology company's stock worth $4,346,000 after purchasing an additional 500,804 shares during the period. Geode Capital Management LLC lifted its stake in shares of TrueCar by 1.3% in the 2nd quarter. Geode Capital Management LLC now owns 1,842,858 shares of the technology company's stock worth $3,502,000 after acquiring an additional 24,162 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of TrueCar by 8.0% in the first quarter. Russell Investments Group Ltd. now owns 747,593 shares of the technology company's stock valued at $1,181,000 after acquiring an additional 55,088 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of TrueCar by 4.5% in the first quarter. Goldman Sachs Group Inc. now owns 387,829 shares of the technology company's stock valued at $613,000 after acquiring an additional 16,822 shares in the last quarter. Finally, SkyView Investment Advisors LLC increased its stake in shares of TrueCar by 7.8% during the second quarter. SkyView Investment Advisors LLC now owns 260,499 shares of the technology company's stock worth $511,000 after acquiring an additional 18,951 shares during the period. Hedge funds and other institutional investors own 79.44% of the company's stock.
TrueCar Company Profile
(
Get Free Report)
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.
Further Reading
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