Weiss Ratings Reaffirms "Sell (D-)" Rating for TrueCar (NASDAQ:TRUE)

Key Points

• Weiss Ratings has reaffirmed a "Sell (D-)" rating for TrueCar's stock, indicating ongoing concerns about the company's performance.
• TrueCar's stock recently traded at $2.38, with a market cap of approximately $210.49 million and a 52-week range from $1.05 to $4.62.
• Financial analysts are divided, with some upgrading the stock rating while others maintain "hold" or "sell" ratings, reflecting a consensus rating of "Reduce" among analysts.

TrueCar (NASDAQ:TRUE - Get Free Report)'s stock had its "sell (d-)" rating reissued by research analysts at Weiss Ratings in a report issued on Friday,Weiss Ratings reports.

A number of other analysts have also weighed in on TRUE. JPMorgan Chase & Co. upgraded shares of TrueCar from an "underweight" rating to a "neutral" rating in a research note on Thursday, October 16th. Lake Street Capital lifted their price target on shares of TrueCar from $2.00 to $2.55 and gave the stock a "hold" rating in a research note on Thursday, October 16th. BTIG Research lowered shares of TrueCar from a "buy" rating to a "hold" rating in a research note on Monday. Finally, Needham & Company LLC reiterated a "hold" rating on shares of TrueCar in a research note on Tuesday, October 7th. Five research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, TrueCar presently has an average rating of "Reduce" and a consensus price target of $3.10.

TrueCar Price Performance

NASDAQ TRUE traded down $0.03 during trading hours on Friday, reaching $2.38. 1,185,606 shares of the company's stock traded hands, compared to its average volume of 1,141,977. TrueCar has a 52-week low of $1.05 and a 52-week high of $4.62. The firm has a market cap of $210.49 million, a PE ratio of -7.00 and a beta of 2.00. The firm has a 50-day simple moving average of $2.07 and a 200 day simple moving average of $1.80.

Hedge Funds Weigh In On TrueCar

Several hedge funds have recently modified their holdings of the stock. Engineers Gate Manager LP lifted its holdings in shares of TrueCar by 30.8% in the second quarter. Engineers Gate Manager LP now owns 37,648 shares of the technology company's stock worth $72,000 after buying an additional 8,875 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of TrueCar by 8.4% in the first quarter. American Century Companies Inc. now owns 160,127 shares of the technology company's stock worth $253,000 after buying an additional 12,344 shares in the last quarter. OneDigital Investment Advisors LLC lifted its holdings in shares of TrueCar by 10.2% in the first quarter. OneDigital Investment Advisors LLC now owns 153,569 shares of the technology company's stock worth $243,000 after buying an additional 14,155 shares in the last quarter. Goldman Sachs Group Inc. lifted 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 worth $613,000 after buying an additional 16,822 shares in the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new position in shares of TrueCar in the second quarter worth $35,000. Hedge funds and other institutional investors own 79.44% of the company's stock.

About TrueCar

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.

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