HyreCar Inc. (NASDAQ:HYRE)’s traded shares stood at 425,967 during the last session, with the company’s beta value hitting 0. At the close of trading, the stock’s price was $16.96, to imply a decline of -1.34% or -$0.23 in intraday trading. The HYRE share’s 52-week high remains $17.96, putting it -5.9% down since that peak but still an impressive +87.85% since price per share fell to its 52-week low of $2.06. The company has a valuation of $345.43 Million, with an average of 809.93 Million shares in intraday trading volume over the past 10 days and average of 981.48 Million shares over the past 3 months.
Analysts have given a consensus recommendation of Buy for HyreCar Inc. (HYRE), translating to a mean rating of 1.7. Of 4 analyst(s) looking at the stock, none analyst(s) give HYRE a Sell rating. None of those analysts rate the stock as Overweight while no one advise Hold as 4 recommend it as a Buy. None analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -$0.12.
After registering a -1.34% downside in the last session, HyreCar Inc. (HYRE) has traded green over the past five days. The stock hit a weekly high of $17.90 this Thursday, Jun 03, jumping 5.25% in its intraday price action. The 5-day price performance for the stock is 5.74%, and 26.57% over 30 days. With these gigs, the year-to-date price performance is 137.54%. Short interest in HyreCar Inc. (NASDAQ:HYRE) saw shorts transact 802.76 Million shares and set a 0.82 days time to cover.
Analysts on Wall Street suggest a consensus price target of $16, implying a decline of -5.66% to the stock’s current value. The extremes give us $13 and $19 for target low and target high price respectively. As such, HYRE has been trading 12.03% off suggested target high and -23.35% from its likely low.
HyreCar Inc. (HYRE) estimates and forecasts
Looking at statistics comparing HyreCar Inc. share performance against respective industry, we note that the company has outperformed competitors. HyreCar Inc. (HYRE) shares are +142.98% up over the last 6 months, with its year-to-date growth rate higher than industry average at 41.27% against 21.7%. But the analysts are intensifying their growth estimates for the 2021 fiscal year. Revenue is forecast to grow 45.5% this quarter before jumping 60% for the next one. The rating firms project that company’s revenue will grow 69% compared to the previous financial year.
Revenue forecast for the current quarter as set by 3 analysts is $8.94 Million. Meanwhile, for the quarter ending September 01, 2021, a total of 3 analyst(s) estimate revenue growth to $11.65 Million. Earnings reports from the last fiscal year show that sales brought in $5.58 Million and $6.44 Million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 60.1% before jumping 80.9% in the following quarter.
An assessment of the company’s 5-year growth patterns shows that annual earnings fell an estimated 0% for the past 5-year period. While 2021 is set for a 3.3% return in earnings, projections for the next 5 years are at 0% annually.
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HyreCar Inc. (NASDAQ:HYRE)’s Major holders
HyreCar Inc. insiders hold 16.34% of total outstanding shares, with institutional holders owning 45.44% of the shares at 54.32% float percentage. In total, 58 institutions holds shares in the company, led by Lynrock Lake LP. As of Dec 30, 2020, the company held over 1.23 Million shares (or 6.07% of shares), all amounting to roughly $8.82 Million.
The next major institution holding the largest number of shares is G2 Investment Partners Management LLC with 973.81 Thousand shares, or about 4.79% of shares outstanding. As of the market price on Dec 30, 2020, these shares were worth $6.95 Million.
We also have Vanguard Total Stock Market Index Fund and Fidelity Strategic Advisors Small-Mid Cap Fund as the top two Mutual Funds with the largest holdings of the HyreCar Inc. (HYRE) shares. Going by data provided on Dec 30, 2020, Vanguard Total Stock Market Index Fund holds roughly 418,571 shares. This is just over 2.06% of the total shares, with a market valuation of $2.99 Million. Data from the same date shows that the other fund manager holds a little less at 317.45 Thousand, or 1.56% of the shares, all valued at about $3.27 Million.