Brokerages Set TrueCar, Inc. (NASDAQ:TRUE) Price Target at $3.19

Shares of TrueCar, Inc. (NASDAQ:TRUE) have received a consensus rating of “Reduce” from the seven analysts that are covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $3.1875.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of TrueCar in a research report on Saturday, September 27th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TRUE. Algert Global LLC bought a new position in TrueCar during the 1st quarter worth $30,000. Kapitalo Investimentos Ltda bought a new position in TrueCar during the second quarter worth about $35,000. Strs Ohio acquired a new stake in TrueCar in the 1st quarter worth about $38,000. Tower Research Capital LLC TRC boosted its holdings in TrueCar by 383.5% in the 2nd 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 during the period. Finally, Engineers Gate Manager LP boosted its holdings in TrueCar by 30.8% in the 2nd 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 during the period. 79.44% of the stock is owned by institutional investors and hedge funds.

TrueCar Stock Performance

NASDAQ TRUE opened at $1.77 on Friday. The stock has a market cap of $156.54 million, a PE ratio of -5.21 and a beta of 2.00. The firm has a 50-day moving average of $2.03 and a 200-day moving average of $1.76. TrueCar has a 52-week low of $1.05 and a 52-week high of $4.62.

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.