Brokerages Anticipate HyreCar Inc (NASDAQ:HYRE) Will Post Earnings of -$0.08 Per Share

Equities analysts predict that HyreCar Inc (NASDAQ:HYRE) will announce earnings of ($0.08) per share for the current quarter, Zacks reports. Two analysts have issued estimates for HyreCar’s earnings. HyreCar posted earnings of ($0.15) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 46.7%. The firm is expected to report its next quarterly earnings results on Thursday, November 14th.

According to Zacks, analysts expect that HyreCar will report full-year earnings of ($0.41) per share for the current financial year. For the next year, analysts anticipate that the business will post earnings of ($0.04) per share. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that follow HyreCar.

A number of research analysts have recently weighed in on HYRE shares. Northland Securities restated a “buy” rating and issued a $8.00 target price on shares of HyreCar in a report on Tuesday, May 21st. Lake Street Capital initiated coverage on HyreCar in a report on Wednesday, August 7th. They set a “buy” rating and a $9.00 price target on the stock. Zacks Investment Research upgraded HyreCar from a “hold” rating to a “strong-buy” rating and set a $3.75 price target on the stock in a report on Thursday, August 22nd. LADENBURG THALM/SH SH assumed coverage on HyreCar in a report on Tuesday, July 30th. They set a “buy” rating and a $8.25 price target on the stock. Finally, ValuEngine raised HyreCar from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $7.17.

Large investors have recently bought and sold shares of the stock. Northern Trust Corp purchased a new stake in HyreCar during the second quarter valued at about $44,000. Alambic Investment Management L.P. purchased a new stake in HyreCar during the 1st quarter valued at about $82,000. Susquehanna International Group LLP purchased a new stake in HyreCar during the 2nd quarter valued at about $94,000. Spark Investment Management LLC purchased a new stake in HyreCar during the 1st quarter valued at about $170,000. Finally, Balter Liquid Alternatives LLC grew its stake in HyreCar by 9.7% during the 2nd quarter. Balter Liquid Alternatives LLC now owns 142,921 shares of the company’s stock valued at $600,000 after acquiring an additional 12,678 shares in the last quarter. 20.19% of the stock is owned by institutional investors.

Shares of HYRE stock traded up $0.08 during trading hours on Friday, reaching $2.93. The company had a trading volume of 188,576 shares, compared to its average volume of 456,015. HyreCar has a 12 month low of $1.54 and a 12 month high of $8.03. The business has a fifty day simple moving average of $3.11 and a 200-day simple moving average of $4.45. The company has a market cap of $48.43 million, a price-to-earnings ratio of -2.24 and a beta of 1.72.

About HyreCar

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 PassTime to deliver dealer-focused vehicle tracking and inventory management solution.

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Earnings History and Estimates for HyreCar (NASDAQ:HYRE)

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