TrueCar (NASDAQ:TRUE) Lowered to “Underweight” Rating by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of TrueCar (NASDAQ:TRUE) from a neutral rating to an underweight rating in a report released on Thursday, MarketBeat Ratings reports.

A number of other equities analysts have also recently issued reports on the stock. StockNews.com cut shares of TrueCar from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. Needham & Company LLC dropped their price objective on shares of TrueCar from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, TrueCar has an average rating of “Moderate Buy” and an average price target of $4.63.

TrueCar Trading Down 7.8 %

Shares of TRUE stock opened at $1.65 on Thursday. The company has a market capitalization of $143.97 million, a P/E ratio of -4.85 and a beta of 1.72. The business’s 50 day moving average is $2.72 and its two-hundred day moving average is $3.39. TrueCar has a twelve month low of $1.61 and a twelve month high of $4.62.

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

Institutional Trading of TrueCar

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Intech Investment Management LLC bought a new position in TrueCar during the 3rd quarter valued at $36,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of TrueCar in the third quarter valued at $43,000. R Squared Ltd bought a new position in TrueCar during the fourth quarter valued at about $49,000. Straightline Group LLC acquired a new position in TrueCar during the fourth quarter worth about $69,000. Finally, ProShare Advisors LLC grew its holdings in TrueCar by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 24,123 shares of the technology company’s stock worth $90,000 after acquiring an additional 7,938 shares during the period. 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.