As The Stock Falls By -82.17% Year-To-Date, HyreCar Inc. (NASDAQ: HYRE)’S Stock Continues To Progress In 2022 – Marketing Sentinel
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As The Stock Falls By -82.17% Year-To-Date, HyreCar Inc. (NASDAQ: HYRE)’S Stock Continues To Progress In 2022

During the last session, HyreCar Inc. (NASDAQ:HYRE)’s traded shares were 0.33 million, with the beta value of the company hitting 2.91. At the end of the trading day, the stock’s price was $0.84, reflecting an intraday gain of 18.31% or $0.13. The 52-week high for the HYRE share is $19.89, that puts it down -2267.86 from that peak though still a striking 33.33% gain since the share price plummeted to a 52-week low of $0.56. The company’s market capitalization is $20.80M, and the average intraday trading volume over the past 10 days was 0.16 million shares, and the average trade volume was 306.16K 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 1.80. HYRE has a Sell rating from 0 analyst(s) out of 4 analysts who have looked at this stock. 0 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 -$0.25.

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HyreCar Inc. (NASDAQ:HYRE) trade information

HyreCar Inc. (HYRE) registered a 18.31% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 18.31% in intraday trading to $0.84 this Friday, 08/05/22, hitting a weekly high. The stock’s 5-day price performance is 35.00%, and it has moved by 16.62% in 30 days. Based on these gigs, the overall price performance for the year is -95.21%. The short interest in HyreCar Inc. (NASDAQ:HYRE) is 2.12 million shares and it means that shorts have 4.16 day(s) to cover.

The consensus price target of analysts on Wall Street is $5.31, which implies an increase of 84.18% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $3.00 and $8.00 respectively. As a result, HYRE is trading at a discount of -852.38% off the target high and -257.14% 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 down -74.47% during the last six months, with a year-to-date growth rate less than the industry average at -0.79% against 19.70. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 44.40% this quarter and then jump 20.70% in the quarter after that. In the rating firms’ projections, revenue will increase 23.50% compared to the previous financial year.

Revenue for the current quarter is expected to be $10.46 million as predicted by 4 analyst(s). Meanwhile, a consensus of 4 analyst(s) estimates revenue growth to $11.68 million by the end of Sep 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $8.94 million and $9.93 million respectively. In this case, analysts expect current quarter sales to grow by 17.00% and then jump by 17.60% in the coming quarter.

While earnings are projected to return -45.10% in 2022.

HYRE Dividends

HyreCar Inc. is due to release its next quarterly earnings between March 28 and April 01. 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 13.45% of total outstanding shares while institutional holders control 67.36%, with the float percentage being 77.82%. Arctis Global LLC is the largest shareholder of the company, while 91 institutions own stock in it. As of Mar 30, 2022, the company held over 2.76 million shares (or 12.67% of all shares), a total value of $6.58 million in shares.

The next largest institutional holding, with 1.68 million shares, is of State Street Corporation’s that is approximately 7.69% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $3.99 million.

Also, the Mutual Funds coming in first place with the largest holdings of HyreCar Inc. (HYRE) shares are Northern Lights Fd Tr II-Invenomic Fd and Vanguard Total Stock Market Index Fund. Data provided on Apr 29, 2022 indicates that Northern Lights Fd Tr II-Invenomic Fd owns about 0.75 million shares. This amounts to just over 3.45 percent of the company’s overall shares, with a $1.17 million market value. The same data shows that the other fund manager holds slightly less at 0.53 million, or about 2.41% of the stock, which is worth about $1.25 million.

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