Investing in TrueCar Inc. (TRUE) Is Getting More Attractive


TrueCar Inc.’s filing revealed that its Director Claus Christopher W acquired Company’s shares for reported $96000.0 on Nov 15. In the deal valued at $2.40 per share,40,000 shares were bought. As a result of this transaction, Claus Christopher W now holds 224,405 shares worth roughly $ 0.57 million.

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Then, Mendel John W sold 12,578 shares, generating $34,795 in total proceeds. Upon selling the shares at $2.77, the Director now owns 148,528 shares.

Before that, Mendel John W sold 3,000 shares. TrueCar Inc. shares valued at $9,933 were divested by the Director at a price of $3.31 per share. As a result of the transaction, Mendel John W now holds 115,652 shares, worth roughly $0.29 million.

BTIG Research upgraded its TrueCar Inc. [TRUE] rating to a Buy from a a Neutral in a research note published on Friday. PT values the company’s stock at a premium of 16.0 to its Friday closing price. A number of analysts have revised their coverage, including JP Morgan’s analysts, who increased its forecast for the stock in late October from “an Underweight” to “an Overweight”. Craig Hallum also remained covering TRUE and has decreased its forecast on February 23, 2022 with a “Hold” recommendation from previously “Buy” rating. Northcoast started covering the stock on February 02, 2022. It rated TRUE as “a Neutral”.

Price Performance Review of TRUE

On Friday, TrueCar Inc. [NASDAQ:TRUE] saw its stock fall -6.32% to $2.52. On the same session, the stock had its day’s lowest price of $2.49, but rose to a high of $2.66. Over the last five days, the stock has lost -14.58%. TrueCar Inc. shares have risen nearly 0.40% since the year began. Nevertheless, the stocks have fallen -22.94% over the past one year. While a 52-week high of $4.09 was reached on 02/02/23, a 52-week low of $1.30 was recorded on 02/24/23. SMA at 50 days reached $2.81, while 200 days put it at $2.47. A total of 0.57 million shares were traded, compared to the trading of 0.48 million shares in the previous session.

Levels Of Support And Resistance For TRUE Stock

The 24-hour chart illustrates a support level at 2.45, which if violated will result in even more drops to 2.39. On the upside, there is a resistance level at 2.62. A further resistance level may holdings at 2.73. The Relative Strength Index (RSI) on the 14-day chart is 34.24, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.24, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 95.56%. Stochastics %K at 15.57% indicates the stock is a buying.

How much short interest is there in TrueCar Inc.?

A steep rise in short interest was recorded in TrueCar Inc. stocks on Jan 30, 2023, dropping by -0.29 million shares to a total of 1.47 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 1.76 million shares. There was a decline of -19.73%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.16% of the overall stock float, the days-to-cover ratio (short ratio) fell to 4.56.

TrueCar Inc. [TRUE] – Who Are The Largest Shareholders?

In filings from Caledonia, it is revealed that the company now owns 18,626,859 shares, or roughly 21.14% of the outstanding TRUE shares. Additionally, BlackRock Fund Advisors decreased -5.62% of its stake after which the total value it holdings stand at $19,180,718, while Cannell Capital LLC reduced -19.34% of its stake to hold $17.39 million in the firm. Over the last quarter, The Vanguard Group, Inc. purchased 137,755 shares of TrueCar Inc., while Dimensional Fund Advisors LP bought -284,261 shares. At present, Portolan Capital Management LLC is holding 2,393,343 shares valued at $7.47 million. Renaissance Technologies LLC owned 2,097,301 shares of the company at the time of its most recent 13F filing, worth $6.54 million.

According to FactSet, TrueCar Inc.’s share price will average $3.50 in the next year, based on opinions of analysts polled by the firm. This is up nearly 39.41 percent from its previous closing price of $2.69. Analysts expect TrueCar Inc. stock to reach the higher price of $4.00, while the lowest price estimate is $2.75. However, 5 analysts have rated TRUE stock as an Overweight in their predictions for 2023.


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