TrueCar Sees Unusually-High Trading Volume Following Insider Buying Activity (TRUE)
TrueCar (NASDAQ:TRUE) shares saw unusually-high trading volume on Thursday following insider buying activity, Analyst RN reports. Approximately 966,901 shares changed hands during trading, an increase of 99% from the previous session’s volume of 486,809 shares.The stock last traded at $16.49 and had previously closed at $15.18.
Specifically, Director Christopher W. Claus acquired 30,000 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, August 12th. The shares were purchased at an average cost of $14.18 per share, with a total value of $425,400.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on TRUE shares. 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 analysts have rated the stock with a hold rating, TrueCar has a consensus rating of “Hold” and a consensus target price of $19.20.
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 $1.112 billion. TrueCar also was the target of a significant growth in short interest in July. As of July 31st, there was short interest totalling 2,359,186 shares, a growth of 34.7% from the July 15th total of 1,751,123 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average trading volume of 361,389 shares, the short-interest ratio is currently 6.5 days.
TrueCar, Inc (NASDAQ:TRUE) is a data-driven online platform operating a technology infrastructure, powered by data and analytics.
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