TrueCar, Inc. (NASDAQ:TRUE) Short Interest Down 25.1% in August

TrueCar, Inc. (NASDAQ:TRUE) was the target of a large drop in short interest during the month of August. As of August 31st, there was short interest totaling 935,800 shares, a drop of 25.1% from the August 15th total of 1,250,000 shares. Based on an average daily trading volume, of 352,400 shares, the days-to-cover ratio is presently 2.7 days. Currently, 1.4% of the company’s stock are short sold. Currently, 1.4% of the company’s stock are short sold. Based on an average daily trading volume, of 352,400 shares, the days-to-cover ratio is presently 2.7 days.

TrueCar Stock Performance

Shares of TrueCar stock opened at $2.39 on Friday. The business’s 50 day simple moving average is $2.02 and its 200 day simple moving average is $1.76. TrueCar has a 52-week low of $1.05 and a 52-week high of $4.62. The firm has a market cap of $211.37 million, a PE ratio of -7.03 and a beta of 1.97.

Institutional Investors Weigh In On TrueCar

A number of hedge funds and other institutional investors have recently bought and sold shares of TRUE. Algert Global LLC bought a new position in TrueCar in the first quarter valued at approximately $30,000. Kapitalo Investimentos Ltda bought a new position in TrueCar in the second quarter valued at approximately $35,000. Strs Ohio bought a new position in TrueCar in the first quarter valued at approximately $38,000. Tower Research Capital LLC TRC grew its stake in TrueCar by 383.5% in the second quarter. Tower Research Capital LLC TRC now owns 26,155 shares of the technology company’s stock valued at $50,000 after purchasing an additional 20,746 shares in the last quarter. Finally, Engineers Gate Manager LP grew its stake in TrueCar by 30.8% in the second quarter. Engineers Gate Manager LP now owns 37,648 shares of the technology company’s stock valued at $72,000 after purchasing an additional 8,875 shares in the last quarter. 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.