In the last trading session, 1,620,376 HyreCar Inc. (NASDAQ:HYRE) shares changed hands as the company’s beta touched 0. With the company’s per share price at $20.7 changed hands at -$0.44 or -0.02% during last session, the market valuation stood at $421.75 Million. HYRE’s last price was a discount, traded about -8.36% off its 52-week high of $22.43. The share price had its 52-week low at $2.51, which suggests the last value was 87.87% up since then. When we look at HyreCar Inc.’s average trading volume, we note the 10-day average is 982Million shares, with the 3-month average coming to 1.05 Million.
Analysts gave the HyreCar Inc. (HYRE) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.7. If we narrow down to specifics, the data shows that none out of 4 analysts rate the stock as a Sell, with a further none assigning it an Overweight rating. Of the remaining, none recommended HYRE as a Hold, 4 felt it is a Buy and none rated the stock as Underweight. HyreCar Inc.’s EPS for the current quarter is expected to be -$0.12.
HyreCar Inc. (NASDAQ:HYRE) trade information
Although HYRE has turned red as seen at the end of in last trading. With action -2.08%, the performance over the past five days has been green. The jump to weekly highs of $22.43 on Thursday, Jun 17 added 7.71% to the stock’s daily price. The company’s shares are showing year-to-date upside of 1.9%, with the 5-day performance at 0.09% in the green. However, in the 30-day time frame, HyreCar Inc. (NASDAQ:HYRE) is 0.41% up. Looking at the short shares, we see there were 1.25 Million shares sold at short interest cover period of 1.19 days.
The consensus price target for the stock as assigned by Wall Street analysts is $16, meaning bulls need a downside of -22.71% from its current market value. According to analyst projections, HYRE’s forecast low is $13 with $19 as the target high. To hit the forecast high, the stock’s price needs a -8.21% upsurge from its current level, while the stock would need to tank -37.2% for it to hit the projected low.
HyreCar Inc. (HYRE) estimates and forecasts
Data shows that the HyreCar Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot +172.01% over the past 6 months, a 41.27% in annual growth rate that is considerably higher than the industry average of 19.7%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for HyreCar Inc. will rise +45.5%, while the growth in revenue is estimated to hit 60% for the next quarter. Year-over-year growth is forecast to reach 69% up from the last financial year.
Consensus estimates given by 3 financial analysts project the company’s revenue in the current quarter to hit an average of $8.94 Million. 3 analysts are of the opinion that HyreCar Inc.’s revenue for the quarter ending September 01, 2021 will be $11.65 Million. The company’s revenue for the corresponding quarters a year ago was $5.58 Million and $6.44 Million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 60.1%. The estimates for the next quarter sales put growth at 80.9%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 0%. The 2021 estimates are for HyreCar Inc. earnings to increase by 3.3%, but the outlook for the next 5-year period is at 0% per year.
HyreCar Inc. (NASDAQ:HYRE)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 16.53% of HyreCar Inc. shares while 59.65% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 71.46%. There are 70 institutions holding the HyreCar Inc. stock share, with Lynrock Lake LP the top institutional holder. As of Mar 30, 2021, the company held 7.39% of the shares, roughly 1.51 Million HYRE shares worth $14.77 Million.
Driehaus Capital Management, LLC holds the second largest percentage of outstanding shares, with 4.07% or 828.56 Thousand shares worth $8.12 Million as of Mar 30, 2021.
Among Mutual Funds, the top two as of Mar 30, 2021 were Vanguard Total Stock Market Index Fund and Fidelity Strategic Advisors Small-Mid Cap Fund. With 506771 shares estimated at $4.97 Million under it, the former controlled 2.49% of total outstanding shares. On the other hand, Fidelity Strategic Advisors Small-Mid Cap Fund held about 1.56% of the shares, roughly 317.45 Thousand shares worth around $3.27 Million.