TrueCar (NASDAQ:TRUE) Share Price Passes Below Two Hundred Day Moving Average – Should You Sell?

TrueCar, Inc. (NASDAQ:TRUE) shares crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.34 and traded as low as $1.51. TrueCar shares last traded at $1.51, with a volume of 364,499 shares.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TRUE. Needham & Company LLC lowered their price target on shares of TrueCar from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. StockNews.com downgraded shares of TrueCar from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th. JPMorgan Chase & Co. cut shares of TrueCar from a “neutral” rating to an “underweight” rating in a research note on Thursday, March 27th. Finally, Citigroup lowered shares of TrueCar to an “underweight” rating in a research report on Thursday, March 27th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, TrueCar has an average rating of “Hold” and an average target price of $4.63.

TrueCar Stock Down 6.6 %

The business’s 50-day simple moving average is $2.49 and its two-hundred day simple moving average is $3.33. The firm has a market capitalization of $123.03 million, a price-to-earnings ratio of -4.15 and a beta of 1.72.

TrueCar (NASDAQ:TRUE) last announced its earnings results on Tuesday, February 18th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). TrueCar had a negative net margin of 17.68% and a negative return on equity of 17.54%. The firm had revenue of $46.21 million during the quarter, compared to analysts’ expectations of $47.30 million. Sell-side analysts anticipate that TrueCar, Inc. will post -0.19 earnings per share for the current year.

Hedge Funds Weigh In On TrueCar

Several hedge funds have recently bought and sold shares of the company. Intech Investment Management LLC acquired a new stake in shares of TrueCar during the third quarter worth about $36,000. R Squared Ltd purchased a new stake in TrueCar during the 4th quarter worth approximately $49,000. Straightline Group LLC acquired a new stake in TrueCar during the 4th quarter worth approximately $69,000. ProShare Advisors LLC boosted its position in TrueCar by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 24,123 shares of the technology company’s stock valued at $90,000 after buying an additional 7,938 shares during the period. Finally, Occudo Quantitative Strategies LP acquired a new position in shares of TrueCar in the fourth quarter worth $111,000. Institutional investors and hedge funds own 79.44% of the company’s stock.

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.