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HyreCar Inc. (NASDAQ:HYRE) has been assigned a consensus rating of “Buy” from the six brokerages that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $6.21.
Several equities analysts recently commented on the stock. ValuEngine cut shares of HyreCar from a “buy” rating to a “hold” rating in a research note on Tuesday, December 1st. LADENBURG THALM/SH SH upped their target price on shares of HyreCar from $5.25 to $6.35 and gave the company a “buy” rating in a research note on Thursday, November 12th. Finally, Zacks Investment Research cut shares of HyreCar from a “buy” rating to a “hold” rating in a research note on Wednesday, October 14th.
Several hedge funds have recently made changes to their positions in HYRE. Squarepoint Ops LLC raised its stake in shares of HyreCar by 400.0% in the 3rd quarter. Squarepoint Ops LLC now owns 68,969 shares of the company’s stock valued at $217,000 after buying an additional 55,176 shares in the last quarter. Royce & Associates LP acquired a new position in shares of HyreCar in the 3rd quarter valued at $120,000. One68 Global Capital LLC acquired a new position in shares of HyreCar in the 3rd quarter valued at $45,000. Malaga Cove Capital LLC acquired a new position in shares of HyreCar in the 3rd quarter valued at $35,000. Finally, Jane Street Group LLC acquired a new position in shares of HyreCar in the 2nd quarter valued at $32,000. Institutional investors own 31.22% of the company’s stock.
NASDAQ HYRE opened at $7.86 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 3.48. The company has a fifty day simple moving average of $7.07 and a 200 day simple moving average of $4.47. The company has a market cap of $139.33 million, a P/E ratio of -8.93 and a beta of 3.01. HyreCar has a 1 year low of $0.88 and a 1 year high of $8.60.
HyreCar (NASDAQ:HYRE) last posted its quarterly earnings data on Monday, November 16th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.03. The business had revenue of $6.81 million during the quarter, compared to the consensus estimate of $6.42 million. HyreCar had a negative net margin of 63.49% and a negative return on equity of 481.90%. Equities research analysts forecast that HyreCar will post -0.68 EPS for the current fiscal year.
About HyreCar
HyreCar Inc, together with subsidiaries, operates a web-based car-sharing marketplace in the United States. Its marketplace allows car owners to rent their idle cars to ride-sharing service drivers, such as Uber and Lyft drivers. HyreCar Inc was founded in 2014 and is headquartered in Los Angeles, California.
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