TrueCar, Inc. (NASDAQ:TRUE) Short Interest Update

TrueCar, Inc. (NASDAQ:TRUE) was the recipient of a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 704,500 shares, an increase of 33.1% from the September 15th total of 529,500 shares. Based on an average daily trading volume, of 284,300 shares, the short-interest ratio is currently 2.5 days. Currently, 1.0% of the company’s stock are short sold.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TRUE. BTIG Research raised TrueCar from a “neutral” rating to a “buy” rating and set a $3.75 target price on the stock in a report on Wednesday, August 7th. Needham & Company LLC reduced their price objective on shares of TrueCar from $4.00 to $3.75 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Finally, Lake Street Capital started coverage on TrueCar in a research report on Monday, October 7th. They set a “buy” rating and a $6.00 target price on the stock.

Insider Buying and Selling

In other TrueCar news, EVP Jeff Swart sold 20,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $2.82, for a total value of $56,400.00. Following the completion of the transaction, the executive vice president now owns 390,600 shares in the company, valued at $1,101,492. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Lazard Asset Management LLC bought a new position in shares of TrueCar in the 1st quarter worth about $43,000. Fairman Group LLC acquired a new position in TrueCar in the fourth quarter valued at approximately $73,000. SG Americas Securities LLC grew its holdings in shares of TrueCar by 126.5% during the third quarter. SG Americas Securities LLC now owns 34,644 shares of the technology company’s stock valued at $120,000 after purchasing an additional 19,349 shares during the last quarter. Hillsdale Investment Management Inc. acquired a new stake in shares of TrueCar during the 1st quarter worth approximately $152,000. Finally, Assenagon Asset Management S.A. bought a new stake in shares of TrueCar in the 2nd quarter worth approximately $210,000. Institutional investors own 79.44% of the company’s stock.

TrueCar Stock Up 2.2 %

Shares of TRUE stock traded up $0.08 on Friday, reaching $3.68. 262,588 shares of the stock were exchanged, compared to its average volume of 288,590. The firm has a 50 day moving average of $3.10 and a two-hundred day moving average of $3.09. The stock has a market cap of $334.48 million, a P/E ratio of -11.50 and a beta of 1.85. TrueCar has a 1-year low of $1.76 and a 1-year high of $4.05.

TrueCar (NASDAQ:TRUE) last issued its quarterly earnings data on Monday, August 5th. The technology company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). The company had revenue of $41.80 million for the quarter, compared to analyst estimates of $43.38 million. TrueCar had a negative return on equity of 14.10% and a negative net margin of 17.63%. On average, equities research analysts predict that TrueCar will post -0.28 EPS for the current fiscal year.

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.