TrueCar (NASDAQ:TRUE) Stock Price Passes Below 200 Day Moving Average - Time to Sell?

TrueCar, Inc. (NASDAQ:TRUE - Get Free Report) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $2.48 and traded as low as $1.56. TrueCar shares last traded at $1.61, with a volume of 192,525 shares traded.

Analyst Ratings Changes

Several analysts have issued reports on TRUE shares. B. Riley restated a "neutral" rating on shares of TrueCar in a research report on Wednesday, May 7th. Citigroup lowered shares of TrueCar to an "underweight" rating in a research report on Thursday, March 27th. Lake Street Capital lowered shares of TrueCar from a "buy" rating to a "hold" rating and decreased their price target for the stock from $5.00 to $1.50 in a research report on Tuesday, May 6th. Needham & Company LLC decreased their target price on shares of TrueCar from $4.00 to $2.75 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Finally, Wall Street Zen lowered shares of TrueCar from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, TrueCar has a consensus rating of "Hold" and a consensus target price of $3.19.

TrueCar Stock Performance

The firm's 50-day moving average price is $1.48 and its two-hundred day moving average price is $2.47. The firm has a market capitalization of $143.80 million, a price-to-earnings ratio of -4.10 and a beta of 2.08.

Institutional Trading of TrueCar

Several institutional investors have recently made changes to their positions in TRUE. Acadian Asset Management LLC lifted its holdings in TrueCar by 22.2% during the 1st quarter. Acadian Asset Management LLC now owns 2,753,300 shares of the technology company's stock valued at $4,346,000 after purchasing an additional 500,804 shares during the last quarter. Nuveen LLC bought a new position in TrueCar during the 1st quarter valued at about $399,000. Raymond James Financial Inc. bought a new position in TrueCar during the 4th quarter valued at about $930,000. Arrowstreet Capital Limited Partnership lifted its holdings in TrueCar by 75.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 521,467 shares of the technology company's stock valued at $1,945,000 after purchasing an additional 224,969 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in TrueCar by 113.0% during the 4th quarter. JPMorgan Chase & Co. now owns 321,378 shares of the technology company's stock valued at $1,199,000 after purchasing an additional 170,475 shares during the last quarter. 79.44% of the stock is currently owned by institutional investors and hedge funds.

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.