TrueCar’s (TRUE) “Sell (D-)” Rating Reiterated at Weiss Ratings

Weiss Ratings restated their sell (d-) rating on shares of TrueCar (NASDAQ:TRUE) in a report released on Wednesday,Weiss Ratings reports.

Separately, Needham & Company LLC reaffirmed a “hold” rating on shares of TrueCar in a research note on Tuesday. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, TrueCar has an average rating of “Reduce” and an average target price of $3.19.

TrueCar Price Performance

Shares of TRUE opened at $1.44 on Wednesday. TrueCar has a 1 year low of $1.05 and a 1 year high of $4.62. The company has a market capitalization of $127.35 million, a price-to-earnings ratio of -4.24 and a beta of 2.00. The business has a 50-day moving average of $2.00 and a 200-day moving average of $1.76.

Institutional Investors Weigh In On TrueCar

Large investors have recently added to or reduced their stakes in the business. Algert Global LLC acquired a new stake in TrueCar in the first quarter valued at approximately $30,000. Kapitalo Investimentos Ltda acquired a new stake in TrueCar in the second quarter valued at approximately $35,000. Strs Ohio acquired a new stake 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 acquiring an additional 20,746 shares during the period. 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 acquiring an additional 8,875 shares during the period. 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.