TrueCar (NASDAQ:TRUE) Share Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

TrueCar, Inc. (NASDAQ:TRUE) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.47 and traded as low as $1.87. TrueCar shares last traded at $1.88, with a volume of 372,690 shares traded.

Analyst Ratings Changes

A number of equities research analysts have weighed in on TRUE shares. StockNews.com lowered shares of TrueCar from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th. JPMorgan Chase & Co. lowered shares of TrueCar from an “overweight” rating to a “neutral” rating in a research note on Friday, February 21st. Finally, Needham & Company LLC cut their price objective on shares of TrueCar from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, TrueCar currently has a consensus rating of “Moderate Buy” and an average price target of $4.63.

TrueCar Trading Down 1.6 %

The firm’s 50-day moving average price is $3.01 and its 200-day moving average price is $3.47. The stock has a market capitalization of $164.04 million, a PE ratio of -5.53 and a beta of 1.72.

TrueCar (NASDAQ:TRUE) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). TrueCar had a negative return on equity of 17.54% and a negative net margin of 17.68%. The firm had revenue of $46.21 million during the quarter, compared to analysts’ expectations of $47.30 million. On average, equities research analysts predict that TrueCar, Inc. will post -0.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TrueCar

A number of hedge funds have recently added to or reduced their stakes in the stock. Intech Investment Management LLC bought a new position in shares of TrueCar during the third quarter valued at approximately $36,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in TrueCar in the third quarter valued at approximately $43,000. R Squared Ltd acquired a new stake in TrueCar in the fourth quarter valued at approximately $49,000. Straightline Group LLC acquired a new stake in TrueCar in the fourth quarter valued at approximately $69,000. Finally, ProShare Advisors LLC raised its holdings in shares of TrueCar by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 24,123 shares of the technology company’s stock worth $90,000 after buying an additional 7,938 shares during the last quarter. 79.44% of the stock is currently owned by institutional investors.

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.