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

Shares of TrueCar, Inc. (NASDAQ:TRUE) passed below its two hundred day moving average during trading on Friday . The stock has a two hundred 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 trading hands.

Wall Street Analysts Forecast Growth

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

TrueCar Stock Down 1.6 %

The company’s 50 day moving average price is $3.01 and its 200 day moving average price is $3.47. The firm has a market capitalization of $164.04 million, a price-to-earnings 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) EPS for the quarter, missing the consensus estimate 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 company had revenue of $46.21 million for the quarter, compared to analyst estimates of $47.30 million. As a group, analysts expect that TrueCar, Inc. will post -0.19 earnings per share for the current year.

Institutional Investors Weigh In On TrueCar

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. acquired a new position in TrueCar during the third quarter valued at $43,000. Intech Investment Management LLC acquired a new position in TrueCar during the third quarter valued at $36,000. FMR LLC lifted its position in TrueCar by 23.7% during the third quarter. FMR LLC now owns 380,636 shares of the technology company’s stock valued at $1,313,000 after purchasing an additional 73,041 shares during the period. BNP Paribas Financial Markets lifted its position in TrueCar by 15.2% during the third quarter. BNP Paribas Financial Markets now owns 60,942 shares of the technology company’s stock valued at $210,000 after purchasing an additional 8,027 shares during the period. Finally, State Street Corp lifted its position in TrueCar by 0.9% during the third quarter. State Street Corp now owns 1,790,659 shares of the technology company’s stock valued at $6,178,000 after purchasing an additional 16,127 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.