TrueCar (NASDAQ:TRUE) Stock Price Passes Above 50-Day Moving Average – Time to Sell?

TrueCar, Inc. (NASDAQ:TRUE) passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $2.25 and traded as high as $2.54. TrueCar shares last traded at $2.5450, with a volume of 14,755,372 shares.

Analyst Ratings Changes

TRUE has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TrueCar in a report on Wednesday, January 21st. Needham & Company LLC reaffirmed a “hold” rating on shares of TrueCar in a research note on Tuesday, October 7th. JPMorgan Chase & Co. upgraded shares of TrueCar from an “underweight” rating to a “neutral” rating in a research note on Thursday, October 16th. Lake Street Capital increased their price objective on shares of TrueCar from $2.00 to $2.55 and gave the company a “hold” rating in a report on Thursday, October 16th. Finally, BTIG Research reaffirmed a “neutral” rating on shares of TrueCar in a report on Thursday, January 22nd. Five analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, TrueCar presently has an average rating of “Reduce” and an average price target of $2.65.

TrueCar Price Performance

The firm has a market cap of $226.35 million, a P/E ratio of -11.57 and a beta of 2.22. The company’s 50-day simple moving average is $2.25 and its 200 day simple moving average is $2.13.

Institutional Investors Weigh In On TrueCar

Institutional investors have recently modified their holdings of the stock. Noesis Capital Mangement Corp bought a new position in TrueCar during the second quarter valued at $238,000. Connective Capital Management LLC bought a new stake in shares of TrueCar in the 2nd quarter worth about $396,000. Ethic Inc. boosted its stake in shares of TrueCar by 104.7% during the 2nd quarter. Ethic Inc. now owns 44,013 shares of the technology company’s stock worth $87,000 after purchasing an additional 22,511 shares during the period. Vanguard Personalized Indexing Management LLC grew its holdings in TrueCar by 219.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 54,653 shares of the technology company’s stock valued at $104,000 after purchasing an additional 37,533 shares during the last quarter. Finally, Cannon Global Investment Management LLC purchased a new stake in TrueCar in the 4th quarter worth about $228,000. 79.44% of the stock is owned by institutional investors.

About TrueCar

TrueCar, Inc operates a digital automotive marketplace designed to streamline the vehicle buying and selling process in the United States. Through its online platform, TrueCar provides prospective car buyers with transparent pricing information, real?time market data and guaranteed savings from a network of certified dealers. The company’s core offerings include pricing analytics, dealer inventory listings and a purchase–price guarantee that aims to reduce the negotiation burden typically associated with new and used vehicle transactions.

Founded in 2005 under the name Zag.com by entrepreneur Scott Painter, the company rebranded as TrueCar in 2010 and subsequently completed its initial public offering in 2014.