HyreCar (HYRE) Sees Strong Trading Volume

HyreCar Inc (NASDAQ:HYRE) shares saw unusually-high trading volume on Friday . Approximately 2,554,274 shares were traded during mid-day trading, an increase of 420% from the previous session’s volume of 490,859 shares.The stock last traded at $4.15 and had previously closed at $3.48.

HYRE has been the subject of a number of recent research reports. Zacks Investment Research raised HyreCar from a “hold” rating to a “buy” rating and set a $3.00 target price for the company in a research note on Wednesday, December 26th. ValuEngine downgraded HyreCar from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. Northland Securities assumed coverage on HyreCar in a research report on Monday, December 17th. They set an “outperform” rating for the company. Finally, Taglich Brothers assumed coverage on HyreCar in a research report on Wednesday, October 24th. They set a “speculative buy” rating and a $4.00 price objective for the company.

HyreCar (NASDAQ:HYRE) last issued its quarterly earnings data on Thursday, November 8th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.05. The business had revenue of $2.69 million for the quarter, compared to analyst estimates of $2.62 million. As a group, equities research analysts anticipate that HyreCar Inc will post -1.19 EPS for the current fiscal year.

In related news, Director Anshu Bansal sold 400,000 shares of the firm’s stock in a transaction dated Wednesday, December 26th. The stock was sold at an average price of $1.50, for a total transaction of $600,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

An institutional investor recently bought a new position in HyreCar stock. Citadel Advisors LLC bought a new stake in shares of HyreCar Inc (NASDAQ:HYRE) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 26,355 shares of the company’s stock, valued at approximately $133,000. Citadel Advisors LLC owned 0.25% of HyreCar at the end of the most recent reporting period. 0.86% of the stock is currently owned by institutional investors.

TRADEMARK VIOLATION WARNING: This report was originally published by Markets Daily and is owned by of Markets Daily. If you are viewing this report on another website, it was illegally stolen and republished in violation of US and international trademark & copyright laws. The original version of this report can be accessed at https://www.themarketsdaily.com/2019/01/12/hyrecar-hyre-sees-strong-trading-volume.html.

HyreCar Company Profile (NASDAQ:HYRE)

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.

Further Reading: Trading Strategy Methods for Individual Investors

Receive News & Ratings for HyreCar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HyreCar and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply