HyreCar (NASDAQ:HYRE) posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.14) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.03, Morningstar.com reports. HyreCar had a negative net margin of 96.10% and a negative return on equity of 160.82%. The company had revenue of $3.51 million during the quarter, compared to the consensus estimate of $3.50 million.
Shares of NASDAQ:HYRE traded up $0.08 during trading on Friday, reaching $4.28. 128,836 shares of the stock were exchanged, compared to its average volume of 623,602. HyreCar has a 12-month low of $1.54 and a 12-month high of $8.03. The stock has a market capitalization of $52.28 million and a P/E ratio of -3.27.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC boosted its holdings in HyreCar by 300.1% in the 4th quarter. Jane Street Group LLC now owns 108,079 shares of the company’s stock worth $258,000 after acquiring an additional 81,068 shares during the period. Morgan Stanley boosted its holdings in HyreCar by 12,714.6% in the 1st quarter. Morgan Stanley now owns 12,302 shares of the company’s stock worth $62,000 after acquiring an additional 12,206 shares during the period. BlackRock Inc. boosted its holdings in HyreCar by 37.8% in the 1st quarter. BlackRock Inc. now owns 7,286 shares of the company’s stock worth $37,000 after acquiring an additional 1,999 shares during the period. EAM Global Investors LLC purchased a new position in shares of HyreCar during the 1st quarter valued at approximately $910,000. Finally, Alambic Investment Management L.P. purchased a new position in shares of HyreCar during the 1st quarter valued at approximately $82,000. Hedge funds and other institutional investors own 11.63% of the company’s stock.
A number of analysts have recently issued reports on the company. Zacks Investment Research cut HyreCar from a “hold” rating to a “sell” rating in a report on Wednesday. Northland Securities reiterated a “buy” rating and set a $8.00 target price on shares of HyreCar in a report on Tuesday, May 21st.
HyreCar Company Profile
HyreCar Inc 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. The company has a strategic partnership with DriveItAway and the PassTime to deliver dealer-focused vehicle tracking and inventory management solution.