TrueCar (NASDAQ:TRUE) Stock Passes Below Two Hundred Day Moving Average – Here’s Why

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 changing hands.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. StockNews.com cut shares of TrueCar from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. 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 report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. cut shares of TrueCar from an “overweight” rating to a “neutral” rating in a report on Friday, February 21st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, TrueCar presently has an average rating of “Moderate Buy” and an average target price of $4.63.

TrueCar Price Performance

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

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

Institutional Trading of TrueCar

A number of institutional investors and hedge funds have recently modified their holdings of TRUE. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of TrueCar during the third quarter worth about $43,000. Intech Investment Management LLC purchased a new stake in TrueCar during the 3rd quarter valued at about $36,000. FMR LLC grew its stake in TrueCar by 23.7% during the 3rd quarter. FMR LLC now owns 380,636 shares of the technology company’s stock valued at $1,313,000 after acquiring an additional 73,041 shares in the last quarter. BNP Paribas Financial Markets grew its stake in TrueCar by 15.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 60,942 shares of the technology company’s stock valued at $210,000 after acquiring an additional 8,027 shares in the last quarter. Finally, State Street Corp grew its stake in TrueCar by 0.9% during the 3rd quarter. State Street Corp now owns 1,790,659 shares of the technology company’s stock valued at $6,178,000 after acquiring an additional 16,127 shares in the last quarter. Hedge funds and other institutional investors own 79.44% of the company’s stock.

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.