TrueCar Inc (NASDAQ:TRUE) was the target of a significant drop in short interest in February. As of February 28th, there was short interest totalling 9,583,325 shares, a drop of 12.8% from the February 15th total of 10,988,079 shares. Based on an average trading volume of 3,263,437 shares, the days-to-cover ratio is presently 2.9 days.
Several research firms have recently commented on TRUE. Zacks Investment Research upgraded TrueCar from a “sell” rating to a “hold” rating in a research report on Thursday, January 11th. ValuEngine cut TrueCar from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 1st. B. Riley reiterated a “buy” rating and set a $18.00 target price on shares of TrueCar in a research report on Wednesday, January 24th. Finally, Stephens set a $18.00 price target on TrueCar and gave the stock a “buy” rating in a research note on Friday, February 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. TrueCar has a consensus rating of “Hold” and a consensus price target of $17.56.
In other news, SVP John Pierantoni sold 2,494 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $11.29, for a total value of $28,157.26. Following the transaction, the senior vice president now owns 57,513 shares in the company, valued at $649,321.77. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 5,227 shares of company stock worth $59,857. Company insiders own 15.50% of the company’s stock.
Hedge funds have recently modified their holdings of the company. SG Americas Securities LLC bought a new position in TrueCar in the third quarter worth about $104,000. Massey Quick Simon & CO. LLC bought a new position in TrueCar in the third quarter worth about $119,000. Xact Kapitalforvaltning AB acquired a new stake in shares of TrueCar in the fourth quarter valued at approximately $132,000. Global Endowment Management LP acquired a new stake in shares of TrueCar in the fourth quarter valued at approximately $133,000. Finally, Vident Investment Advisory LLC acquired a new stake in shares of TrueCar in the third quarter valued at approximately $237,000. 89.02% of the stock is currently owned by institutional investors and hedge funds.
TRUE stock opened at $9.94 on Wednesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 6.41 and a quick ratio of 6.41. TrueCar has a 12-month low of $9.63 and a 12-month high of $21.75.
TrueCar (NASDAQ:TRUE) last issued its quarterly earnings results on Thursday, February 15th. The technology company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.01 by $0.04. TrueCar had a negative net margin of 10.16% and a negative return on equity of 8.70%. The business had revenue of $83.13 million for the quarter, compared to analysts’ expectations of $81.72 million. During the same quarter last year, the company posted ($0.01) earnings per share. The company’s quarterly revenue was up 12.2% compared to the same quarter last year. equities analysts forecast that TrueCar will post -0.25 EPS for the current fiscal year.
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TrueCar, Inc is an Internet-based information, technology, and communication services company. The Company has a data-driven online platform, which features market data and analytics. The Company-branded platform is available on its TrueCar Website and mobile applications. It customizes and operates its platform on a co-branded basis for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for a range of enterprises.
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