HyreCar (HYRE) Trading Down 6%

HyreCar Inc (NASDAQ:HYRE)’s share price was down 6% on Thursday . The company traded as low as $6.21 and last traded at $6.57. Approximately 1,114,151 shares were traded during trading, an increase of 58% from the average daily volume of 703,357 shares. The stock had previously closed at $6.99.

A number of equities analysts have commented on the company. Zacks Investment Research lowered HyreCar from a “buy” rating to a “hold” rating in a research note on Thursday, January 24th. ValuEngine lowered HyreCar from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. Finally, Northland Securities assumed coverage on HyreCar in a research note on Monday, December 17th. They set an “outperform” rating on the stock.

In other HyreCar news, Director Anshu Bansal sold 400,000 shares of the firm’s stock in a transaction on Wednesday, December 26th. The stock was sold at an average price of $1.50, for a total transaction of $600,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

A hedge fund recently raised its stake in HyreCar stock. Jane Street Group LLC grew its holdings in HyreCar Inc (NASDAQ:HYRE) by 300.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 108,079 shares of the company’s stock after purchasing an additional 81,068 shares during the period. Jane Street Group LLC owned approximately 0.92% of HyreCar worth $258,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 6.25% of the company’s stock.

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About HyreCar (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.

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