TrueCar Sees Large Growth in Short Interest (TRUE)
TrueCar (NASDAQ:TRUE) was the target of a large growth in short interest in the month of August. As of August 15th, there was short interest totalling 3,008,405 shares, a growth of 27.5% from the July 31st total of 2,359,186 shares, AR Network reports. Based on an average daily trading volume, of 664,644 shares, the days-to-cover ratio is currently 4.5 days. Approximately 0.0% of the shares of the stock are short sold.
TRUE has been the subject of a number of recent research reports. 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 company currently has an average rating of “Hold” and an average target price of $19.20.
Shares of TrueCar (NASDAQ:TRUE) opened at 22.50 on Thursday. TrueCar has a 1-year low of $9.05 and a 1-year high of $24.50. The stock’s 50-day moving average is $15.84 and its 200-day moving average is $14.12. The company’s market cap is $1.729 billion.
TrueCar, Inc (NASDAQ:TRUE) is a data-driven online platform operating a technology infrastructure, powered by data and analytics.
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