HyreCar Inc (HYRE) Expected to Post Quarterly Sales of $3.21 Million

Equities analysts expect HyreCar Inc (NASDAQ:HYRE) to announce $3.21 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for HyreCar’s earnings, with the highest sales estimate coming in at $3.34 million and the lowest estimate coming in at $3.08 million. The firm is expected to issue its next quarterly earnings report on Thursday, March 21st.

On average, analysts expect that HyreCar will report full-year sales of $9.88 million for the current fiscal year, with estimates ranging from $9.75 million to $10.01 million. For the next year, analysts anticipate that the firm will report sales of $19.22 million, with estimates ranging from $17.89 million to $20.55 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover HyreCar.

A number of analysts have recently weighed in on HYRE shares. Northland Securities started coverage on shares of HyreCar in a research report on Monday, December 17th. They issued an “outperform” rating on the stock. Zacks Investment Research raised shares of HyreCar from a “sell” rating to a “hold” rating in a research report on Thursday, February 28th. Finally, ValuEngine downgraded shares of HyreCar from a “buy” rating to a “hold” rating in a research report on Wednesday, January 2nd.

NASDAQ:HYRE opened at $7.52 on Friday. HyreCar has a 1-year low of $1.54 and a 1-year high of $7.98.

In related news, Director Anshu Bansal sold 400,000 shares of the company’s stock in a transaction dated Wednesday, December 26th. The shares were sold at an average price of $1.50, for a total value of $600,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

A hedge fund recently raised its stake in HyreCar stock. Jane Street Group LLC increased its position in HyreCar Inc (NASDAQ:HYRE) by 300.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,079 shares of the company’s stock after purchasing an additional 81,068 shares during the period. Jane Street Group LLC owned approximately 0.92% of HyreCar worth $258,000 at the end of the most recent reporting period. 6.25% of the stock is currently owned by hedge funds and other institutional investors.

About HyreCar

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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Earnings History and Estimates for HyreCar (NASDAQ:HYRE)

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