Short Interest Worth Mentioning Today: What’s in Truecar Incorporated (NASDAQ:TRUE) After Rise in Shorted Shares?

November 18, 2016 - By Dolores Ford   ·   0 Comments

Short Interest Worth Mentioning Today: What’s in Truecar Incorporated (NASDAQ:TRUE) After Rise in Shorted Shares?

The stock of Truecar Incorporated (NASDAQ:TRUE) registered an increase of 22.8% in short interest. TRUE’s total short interest was 11.60M shares in November as published by FINRA. Its up 22.8% from 9.44 million shares, reported previously. With 855,200 shares average volume, it will take short sellers 14 days to cover their TRUE’s short positions. The short interest to Truecar Incorporated’s float is 23.55%. The stock increased 1.36% or $0.17 during the last trading session, hitting $12.63. TrueCar Inc (NASDAQ:TRUE) has risen 100.16% since April 18, 2016 and is uptrending. It has outperformed by 95.73% the S&P500.

TrueCar, Inc. offers a diverse software ecosystem for buying cars. The company has a market cap of $1.14 billion. The Company’s software ecosystem is based on a common technology infrastructure, and powered by data and analytics. It currently has negative earnings. The Firm operates its platform on the TrueCar Website and its branded mobile experience.

Insitutional Activity: The institutional sentiment increased to 1.64 in Q2 2016. Its up 0.54, from 1.1 in 2016Q1. The ratio increased, as 13 funds sold all TrueCar Inc shares owned while 17 reduced positions. 5 funds bought stakes while 28 increased positions. They now own 40.78 million shares or 2.84% more from 39.66 million shares in 2016Q1.
Alliancebernstein Lp reported 49,770 shares or 0% of all its holdings. Moreover, Citigroup has 0% invested in TrueCar Inc (NASDAQ:TRUE) for 1,750 shares. Moreover, Creative Planning has 0% invested in TrueCar Inc (NASDAQ:TRUE) for 8,000 shares. The United Kingdom-based Barclays Public Ltd Co has invested 0% in TrueCar Inc (NASDAQ:TRUE). Ubs Asset Management Americas holds 19,300 shares or 0% of its portfolio. Caledonia (Private) Invs Pty accumulated 0.61% or 1.81 million shares. One Trading Limited Partnership last reported 5,217 shares in the company. Goldman Sachs Grp Inc reported 72,133 shares or 0% of all its holdings. Amer International Group accumulated 31,287 shares or 0% of the stock. Royal Bank Of Canada last reported 5,841 shares in the company. Geode Cap Management Limited Liability Co accumulated 0% or 406,412 shares. California State Teachers Retirement Systems accumulated 113,963 shares or 0% of the stock. Blackrock Fund Advsr has 1.28 million shares for 0% of their US portfolio. United Automobile Association owns 12.56 million shares or 0.35% of their US portfolio. Nationwide Fund owns 35,365 shares or 0% of their US portfolio.

TrueCar Inc (NASDAQ:TRUE) Ratings Coverage

Out of 11 analysts covering TrueCar (NASDAQ:TRUE), 2 rate it a “Buy”, 1 “Sell”, while 8 “Hold”. This means 18% are positive. TrueCar has been the topic of 22 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The stock of TrueCar Inc (NASDAQ:TRUE) earned “Sector Perform” rating by RBC Capital Markets on Friday, November 6. The company was upgraded on Friday, November 4 by Loop Capital. The firm has “Neutral” rating given on Friday, July 24 by JP Morgan. The rating was upgraded by B. Riley & Co on Tuesday, August 30 to “Neutral”. Goldman Sachs downgraded TrueCar Inc (NASDAQ:TRUE) rating on Friday, July 24. Goldman Sachs has “Neutral” rating and $8 price target. As per Friday, February 19, the company rating was maintained by RBC Capital Markets. The rating was downgraded by JMP Securities to “Mkt Perform” on Friday, February 19. The rating was initiated by Loop Capital with “Hold” on Thursday, August 11. The firm has “Sector Perform” rating by RBC Capital Markets given on Friday, July 24. The firm has “Buy” rating by Craig Hallum given on Friday, July 24.

TRUE Company Profile

TrueCar, Inc., incorporated on February 25, 2005, offers a diverse software ecosystem for buying cars. The Company’s software ecosystem is based on a common technology infrastructure, and powered by data and analytics. The Firm operates its platform on the TrueCar Website and its branded mobile experience. The Firm also customizes and operates its platform on a co-branded basis for its affinity group marketing partners, including financial institutions, membership organizations, and employee buying programs for enterprises. The Company’s network of approximately 11,000 TrueCar Certified Dealers consists primarily of new car franchises, as well as independent dealers selling used vehicles.

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By Dolores Ford


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