Short Interest in TrueCar Expands By 34.7% (TRUE)
TrueCar (NASDAQ:TRUE) was the recipient of a large increase in short interest during the month of July. As of July 31st, there was short interest totalling 2,359,186 shares, an increase of 34.7% from the July 15th total of 1,751,123 shares, Analyst Ratings.Net reports. Based on an average daily trading volume, of 361,389 shares, the short-interest ratio is currently 6.5 days. Currently, 0.0% of the shares of the company are short sold.
In other TrueCar news, Director Christopher W. Claus purchased 30,000 shares of the company’s stock on the open market in a transaction dated Tuesday, August 12th. The shares were purchased at an average cost of $14.18 per share, for a total transaction of $425,400.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at JMP Securities raised their price target on shares of TrueCar from $20.00 to $21.00 in a research note on Friday, August 8th. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of TrueCar from $19.00 to $20.00 in a research note on Friday, August 8th. Finally, analysts at Cowen and Company raised their price target on shares of TrueCar from $21.00 to $22.00 in a research note on Friday, August 8th. Two equities research analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and a consensus price target of $19.20.
TrueCar (NASDAQ:TRUE) opened at 15.18 on Thursday. TrueCar has a one year low of $9.05 and a one year high of $16.89. The stock’s 50-day moving average is $13.75 and its 200-day moving average is $12.9. The company’s market cap is $1.029 billion.
TrueCar, Inc (NASDAQ:TRUE) is a data-driven online platform operating a technology infrastructure, powered by data and analytics.
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