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

TrueCar, Inc. (NASDAQ:TRUE)’s share price 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.

Wall Street Analyst Weigh In

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

TrueCar Trading Down 3.7 %

The stock has a market capitalization of $340.88 million, a P/E ratio of -13.52 and a beta of 1.83. The stock’s fifty day moving average price is $3.60 and its two-hundred day moving average price is $3.24.

TrueCar (NASDAQ:TRUE) last posted its quarterly earnings results on Wednesday, November 6th. The technology company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.03). TrueCar had a negative return on equity of 14.33% and a negative net margin of 15.88%. The business had revenue of $46.54 million during the quarter, compared to the consensus estimate of $45.82 million. During the same period in the prior year, the firm earned ($0.07) earnings per share. As a group, analysts expect that TrueCar, Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Activity at TrueCar

In related news, EVP Jeff Swart sold 20,000 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 390,600 shares in the company, valued at $1,101,492. This represents a 4.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 3.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On TrueCar

Several institutional investors have recently bought and sold shares of TRUE. Intech Investment Management LLC purchased a new stake in TrueCar during the 3rd quarter valued at about $36,000. Lazard Asset Management LLC bought a new position in TrueCar during the 1st quarter valued at approximately $43,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in TrueCar during the 3rd quarter valued at approximately $43,000. SG Americas Securities LLC raised its position 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. bought a new position in TrueCar during the 1st quarter valued at approximately $152,000. 79.44% of the stock is currently 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.