TrueCar (NASDAQ:TRUE) Shares Cross Above Fifty Day Moving Average – Time to Sell?

TrueCar, Inc. (NASDAQ:TRUE) shares crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $3.60 and traded as high as $4.18. TrueCar shares last traded at $3.92, with a volume of 148,397 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have commented on TRUE shares. BTIG Research upped their price target on TrueCar from $3.75 to $4.50 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. B. Riley upped their price target on TrueCar from $3.30 to $4.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. Lake Street Capital initiated coverage on TrueCar in a research report on Monday, October 7th. They issued a “buy” rating and a $6.00 target price for the company. Finally, Needham & Company LLC decreased their target price on TrueCar from $4.00 to $3.75 and set a “buy” rating for the company in a research report on Tuesday, August 6th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $4.56.

TrueCar Stock Performance

The stock has a market cap of $340.88 million, a P/E ratio of -13.52 and a beta of 1.83. The firm has a 50-day moving average price of $3.60 and a 200-day moving average price of $3.24.

TrueCar (NASDAQ:TRUE) last posted its quarterly earnings data on Wednesday, November 6th. The technology company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). TrueCar had a negative net margin of 15.88% and a negative return on equity of 14.33%. The company had revenue of $46.54 million for the quarter, compared to the consensus estimate of $45.82 million. During the same period last year, the business earned ($0.07) EPS. On average, research analysts predict that TrueCar, Inc. will post -0.3 earnings per share for the current year.

Insider Activity at TrueCar

In related news, EVP Jeff Swart sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $2.82, for a total transaction of $56,400.00. Following the completion of the transaction, the executive vice president now owns 390,600 shares of the company’s stock, valued at $1,101,492. This trade represents a 4.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Intech Investment Management LLC bought a new position in TrueCar during the 3rd quarter valued at approximately $36,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in TrueCar during the 3rd quarter valued at $43,000. Lazard Asset Management LLC purchased a new stake in TrueCar during the 1st quarter valued at $43,000. SG Americas Securities LLC boosted its stake in TrueCar by 126.5% during the 3rd 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. Finally, Hillsdale Investment Management Inc. purchased a new stake in TrueCar during the 1st quarter valued at $152,000. 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.