During the last session, HyreCar Inc. (NASDAQ:HYRE)’s traded shares were 0.47 million. At the end of the trading day, the stock’s price was $11.67, reflecting an intraday gain of 1.74% or $0.2. The 52-week high for the HYRE share is $24.21, that puts it down -107.46 from that peak though still a striking 74.72% gain since the share price plummeted to a 52-week low of $2.95. The company’s market capitalization is $249.27M, and the average intraday trading volume over the past 10 days was 0.75 million shares, and the average trade volume was 867.93K shares over the past three months.
HyreCar Inc. (HYRE) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 2.20. HYRE has a Sell rating from 0 analyst(s) out of 5 analysts who have looked at this stock. 1 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 4 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.12.
HyreCar Inc. (NASDAQ:HYRE) trade information
HyreCar Inc. (HYRE) registered a 1.74% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 1.74% in intraday trading to $11.67 this Friday, 09/03/21, hitting a weekly high. The stock’s 5-day price performance is 0.00%, and it has moved by -33.47% in 30 days. Based on these gigs, the overall price performance for the year is 236.31%. The short interest in HyreCar Inc. (NASDAQ:HYRE) is 1.25 million shares and it means that shorts have 0.68 day(s) to cover.
The consensus price target of analysts on Wall Street is $18.80, which implies an increase of 37.93% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $15.00 and $22.00 respectively. As a result, HYRE is trading at a discount of -88.52% off the target high and -28.53% off the low.
HyreCar Inc. (HYRE) estimates and forecasts
Statistics show that HyreCar Inc. has underperformed its competitors in share price, compared to the industry in which it operates. HyreCar Inc. (HYRE) shares have gone up 37.94% during the last six months, with a year-to-date growth rate less than the industry average at -134.92% against 29.40. Yet analysts are ramping up their growth forecast for the fiscal year 2021. Revenue is predicted to grow 45.50% this quarter and then drop -180.00% in the quarter after that. In the rating firms’ projections, revenue will increase 52.00% compared to the previous financial year.
Revenue for the current quarter is expected to be $9.06 million as predicted by 4 analyst(s). Meanwhile, a consensus of 5 analyst(s) estimates revenue growth to $10.21 million by the end of Sep 2021. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $5.58 million and $6.44 million respectively. In this case, analysts expect current quarter sales to grow by 62.20% and then jump by 58.50% in the coming quarter.
While earnings are projected to return 3.30% in 2021.
HyreCar Inc. is due to release its next quarterly earnings between November 09 and November 15. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
HyreCar Inc. (NASDAQ:HYRE)’s Major holders
HyreCar Inc. insiders own 16.53% of total outstanding shares while institutional holders control 59.65%, with the float percentage being 71.46%. Lynrock Lake LP is the largest shareholder of the company, while 70 institutions own stock in it. As of Mar 30, 2021, the company held over 1.51 million shares (or 7.39% of all shares), a total value of $14.77 million in shares.
The next largest institutional holding, with 0.83 million shares, is of Driehaus Capital Management, LLC’s that is approximately 4.07% of outstanding shares. At the market price on Mar 30, 2021, these shares were valued at $8.12 million.
Also, the Mutual Funds coming in first place with the largest holdings of HyreCar Inc. (HYRE) shares are Vanguard Total Stock Market Index Fund and Fidelity Strategic Advisors Small-Mid Cap Fund. Data provided on Mar 30, 2021 indicates that Vanguard Total Stock Market Index Fund owns about 0.51 million shares. This amounts to just over 2.49 percent of the company’s overall shares, with a $4.97 million market value. The same data shows that the other fund manager holds slightly less at 0.32 million, or about 1.56% of the stock, which is worth about $3.27 million.