HyreCar (NASDAQ:HYRE) Raised to C- at TheStreet

TheStreet upgraded shares of HyreCar (NASDAQ:HYRE) from an e+ rating to a c- rating in a research report report published on Tuesday, TheStreetRatingsTable reports.

Separately, Zacks Investment Research cut shares of HyreCar from a hold rating to a sell rating in a research report on Wednesday, June 2nd. One equities research analyst has rated the stock with a sell rating and three have issued a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $12.70.

Shares of HYRE opened at $18.88 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.19 and a current ratio of 3.19. The company has a 50-day moving average price of $13.80. The firm has a market cap of $384.66 million, a P/E ratio of -18.88 and a beta of 2.87. HyreCar has a one year low of $2.06 and a one year high of $19.42.

HyreCar (NASDAQ:HYRE) last announced its quarterly earnings results on Thursday, May 13th. The company reported ($0.16) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.23) by $0.07. HyreCar had a negative net margin of 68.17% and a negative return on equity of 304.85%. Equities research analysts predict that HyreCar will post -0.37 earnings per share for the current fiscal year.

In other news, COO Henry Park sold 10,000 shares of the business’s stock in a transaction on Wednesday, May 19th. The shares were sold at an average price of $15.66, for a total transaction of $156,600.00. Following the completion of the transaction, the chief operating officer now directly owns 192,365 shares in the company, valued at approximately $3,012,435.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Grace Mellis sold 32,348 shares of the business’s stock in a transaction on Monday, May 24th. The shares were sold at an average price of $17.42, for a total transaction of $563,502.16. Following the transaction, the director now owns 253,652 shares of the company’s stock, valued at $4,418,617.84. The disclosure for this sale can be found here. Insiders sold a total of 114,677 shares of company stock valued at $1,961,991 over the last quarter. 14.71% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of HyreCar during the 1st quarter worth $29,000. Jacobi Capital Management LLC bought a new stake in HyreCar in the first quarter worth $37,000. Cordasco Financial Network bought a new stake in HyreCar in the first quarter worth $59,000. ExodusPoint Capital Management LP bought a new stake in HyreCar in the fourth quarter worth $73,000. Finally, Barclays PLC bought a new stake in HyreCar in the first quarter worth $75,000. 45.70% of the stock is owned by institutional investors.

HyreCar Company Profile

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 incorporated in 2014 and is headquartered in Los Angeles, California.

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