TrueCar (NASDAQ:TRUE) Stock Passes Below Two Hundred Day Moving Average of $3.21

TrueCar, Inc. (NASDAQ:TRUE) shares crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.21 and traded as low as $3.09. TrueCar shares last traded at $3.09, with a volume of 88,254 shares changing hands.

Analysts Set New Price Targets

TRUE has been the topic of several research analyst reports. Needham & Company LLC dropped their target price on TrueCar from $4.50 to $4.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. StockNews.com upgraded shares of TrueCar from a “hold” rating to a “buy” rating in a report on Tuesday, May 14th.

TrueCar Trading Down 0.3 %

The stock has a market capitalization of $282.95 million, a price-to-earnings ratio of -7.72 and a beta of 1.88. The firm has a 50-day moving average of $2.87 and a 200-day moving average of $3.21.

TrueCar (NASDAQ:TRUE) last posted its quarterly earnings results on Monday, April 29th. The technology company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.01. TrueCar had a negative return on equity of 17.26% and a negative net margin of 22.15%. The business had revenue of $41.05 million for the quarter, compared to the consensus estimate of $41.21 million. On average, equities research analysts anticipate that TrueCar, Inc. will post -0.22 EPS for the current year.

Hedge Funds Weigh In On TrueCar

A number of institutional investors have recently bought and sold shares of the business. Cannell Capital LLC increased its stake in shares of TrueCar by 2.6% in the third quarter. Cannell Capital LLC now owns 8,441,072 shares of the technology company’s stock worth $17,473,000 after acquiring an additional 216,636 shares during the period. Vanguard Group Inc. raised its stake in shares of TrueCar by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 4,276,548 shares of the technology company’s stock valued at $14,497,000 after buying an additional 41,592 shares during the last quarter. Mill Road Capital Management LLC lifted its holdings in shares of TrueCar by 5.3% in the 4th quarter. Mill Road Capital Management LLC now owns 1,723,800 shares of the technology company’s stock valued at $5,964,000 after buying an additional 86,100 shares during the period. Acuitas Investments LLC boosted its stake in shares of TrueCar by 28.3% in the fourth quarter. Acuitas Investments LLC now owns 1,264,272 shares of the technology company’s stock worth $4,374,000 after buying an additional 279,106 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of TrueCar by 29.1% in the first quarter. Russell Investments Group Ltd. now owns 670,470 shares of the technology company’s stock worth $2,273,000 after buying an additional 151,115 shares during the last quarter. 79.44% of the stock is owned by hedge funds and other institutional investors.

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.