TrueCar’s (TRUE) Hold Rating Reaffirmed at Needham & Company LLC

TrueCar (NASDAQ:TRUE)‘s stock had its “hold” rating restated by research analysts at Needham & Company LLC in a note issued to investors on Tuesday,Benzinga reports.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of TrueCar in a research note on Saturday, September 27th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, TrueCar currently has an average rating of “Reduce” and a consensus target price of $3.19.

TrueCar Trading Up 2.8%

TRUE opened at $1.82 on Tuesday. The business’s fifty day simple moving average is $2.02 and its 200-day simple moving average is $1.76. The company has a market capitalization of $160.96 million, a price-to-earnings ratio of -5.35 and a beta of 2.00. TrueCar has a 12-month low of $1.05 and a 12-month high of $4.62.

Hedge Funds Weigh In On TrueCar

Several large investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its holdings in shares of TrueCar by 383.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 26,155 shares of the technology company’s stock worth $50,000 after purchasing an additional 20,746 shares in the last quarter. SkyView Investment Advisors LLC boosted its position in shares of TrueCar by 7.8% during the second quarter. SkyView Investment Advisors LLC now owns 260,499 shares of the technology company’s stock valued at $511,000 after buying an additional 18,951 shares during the last quarter. Engineers Gate Manager LP lifted its stake in TrueCar by 30.8% during the 2nd 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. Bridgeway Capital Management LLC bought a new position in shares of TrueCar during the 2nd quarter valued at $234,000. Finally, Connective Capital Management LLC purchased a new stake in TrueCar during the second quarter valued at $396,000. 79.44% of the stock is currently owned by institutional investors.

TrueCar Company Profile

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.