TrueCar Inc (NASDAQ:TRUE) saw a large growth in short interest in June. As of June 30th, there was short interest totalling 7,740,800 shares, a growth of 10.2% from the May 30th total of 7,026,400 shares. Currently, 8.5% of the shares of the company are sold short. Based on an average daily trading volume, of 2,330,000 shares, the days-to-cover ratio is presently 3.3 days.
NASDAQ TRUE remained flat at $$5.34 on Friday. 494,819 shares of the company’s stock traded hands, compared to its average volume of 2,010,689. TrueCar has a fifty-two week low of $5.02 and a fifty-two week high of $14.55. The company has a debt-to-equity ratio of 0.12, a current ratio of 5.09 and a quick ratio of 5.09. The company has a market cap of $562.24 million, a P/E ratio of -20.54 and a beta of 1.57. The company’s 50-day moving average price is $5.61.
TrueCar (NASDAQ:TRUE) last posted its earnings results on Thursday, May 9th. The technology company reported ($0.09) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.01. TrueCar had a negative net margin of 9.39% and a negative return on equity of 7.97%. The business had revenue of $85.60 million for the quarter, compared to analysts’ expectations of $84.99 million. During the same period in the prior year, the company posted $0.01 EPS. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, equities analysts anticipate that TrueCar will post -0.31 earnings per share for the current fiscal year.
In related news, EVP Robert Mcclung sold 7,669 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $5.41, for a total transaction of $41,489.29. Following the sale, the executive vice president now directly owns 121,744 shares in the company, valued at approximately $658,635.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 8,976 shares of company stock worth $49,792 over the last 90 days. 7.00% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of TRUE. Marshall Wace North America L.P. bought a new stake in shares of TrueCar in the first quarter worth approximately $219,000. Marshall Wace LLP bought a new stake in shares of TrueCar in the first quarter worth approximately $352,000. NumerixS Investment Technologies Inc bought a new stake in TrueCar during the first quarter valued at approximately $156,000. Alambic Investment Management L.P. bought a new stake in TrueCar during the first quarter valued at approximately $377,000. Finally, Acadian Asset Management LLC bought a new stake in TrueCar during the first quarter valued at approximately $409,000. Institutional investors and hedge funds own 94.98% of the company’s stock.
TRUE has been the topic of a number of recent research reports. Cowen initiated coverage on shares of TrueCar in a research note on Monday, May 20th. They set a “hold” rating and a $7.00 price target on the stock. SunTrust Banks restated a “hold” rating and set a $8.00 price target on shares of TrueCar in a research note on Tuesday, May 14th. Goldman Sachs Group set a €137.00 ($159.30) price target on shares of Safran and gave the company a “buy” rating in a research note on Monday, March 18th. Benchmark cut shares of TrueCar from a “buy” rating to a “hold” rating and set a $11.00 price target on the stock. in a research note on Monday, March 25th. Finally, Zacks Investment Research upgraded shares of Vistra Energy from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research note on Saturday. Three research analysts have rated the stock with a sell rating and nine have given a hold rating to the company’s stock. TrueCar currently has an average rating of “Hold” and an average target price of $9.91.
TrueCar, Inc, together with its subsidiaries, 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. The company also customizes and operates its platform for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for large enterprises.
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