HyreCar (NASDAQ:HYRE) issued its quarterly earnings results on Thursday. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.05, Morningstar.com reports. The business had revenue of $2.69 million during the quarter, compared to analysts’ expectations of $2.62 million. HyreCar updated its FY 2018 guidance to EPS.
HYRE stock traded down $0.39 during trading on Friday, reaching $2.15. The company’s stock had a trading volume of 267,718 shares, compared to its average volume of 93,626. HyreCar has a 1 year low of $1.90 and a 1 year high of $6.50.
Separately, Taglich Brothers began coverage on HyreCar in a research note on Wednesday, October 24th. They issued a “speculative buy” rating and a $4.00 price target for the company.
A hedge fund recently bought a new stake in HyreCar stock. Citadel Advisors LLC acquired a new stake in shares of HyreCar Inc (NASDAQ:HYRE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 26,355 shares of the company’s stock, valued at approximately $133,000. Citadel Advisors LLC owned about 0.25% of HyreCar as of its most recent SEC filing. Institutional investors and hedge funds own 0.49% of the company’s stock.
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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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