TrueCar Inc (NASDAQ:TRUE)’s stock price fell 5.5% during trading on Monday . The stock traded as low as $4.90 and last traded at $4.96, 1,398,458 shares changed hands during mid-day trading. A decline of 9% from the average session volume of 1,530,678 shares. The stock had previously closed at $5.25.
Several research analysts recently weighed in on TRUE shares. TheStreet downgraded shares of TrueCar from a “c-” rating to a “d” rating in a report on Thursday, August 8th. Citigroup dropped their target price on shares of TrueCar from $7.00 to $4.50 and set a “neutral” rating for the company in a report on Friday, August 9th. Cowen set a $5.00 target price on shares of TrueCar and gave the stock a “hold” rating in a report on Friday, August 9th. Needham & Company LLC started coverage on shares of TrueCar in a report on Thursday, September 12th. They issued a “hold” rating for the company. Finally, Zacks Investment Research raised shares of TrueCar from a “strong sell” rating to a “hold” rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating and eleven have given a hold rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $8.01.
The company has a market cap of $528.72 million, a P/E ratio of -19.08 and a beta of 1.53. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.38 and a current ratio of 3.38. The firm’s fifty day moving average is $4.08 and its two-hundred day moving average is $4.59.
Several institutional investors and hedge funds have recently added to or reduced their stakes in TRUE. Marshall Wace LLP bought a new position in shares of TrueCar during the 1st quarter valued at about $352,000. Advisory Services Network LLC purchased a new stake in shares of TrueCar during the 2nd quarter valued at about $60,000. Swiss National Bank raised its position in shares of TrueCar by 8.9% during the 2nd quarter. Swiss National Bank now owns 154,900 shares of the technology company’s stock valued at $846,000 after buying an additional 12,700 shares in the last quarter. Stone Ridge Asset Management LLC purchased a new stake in shares of TrueCar during the 2nd quarter valued at about $67,000. Finally, JPMorgan Chase & Co. raised its position in shares of TrueCar by 1,745.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 422,558 shares of the technology company’s stock valued at $2,201,000 after buying an additional 399,660 shares in the last quarter. 94.16% of the stock is owned by institutional investors and hedge funds.
TrueCar Company Profile (NASDAQ:TRUE)
TrueCar, Inc, together with its subsidiaries, 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. The company also customizes and operates its platform for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for large enterprises.
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