HyreCar (HYRE) Releases Earnings Results, Beats Expectations By $0.05 EPS

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HyreCar (NASDAQ:HYRE) released its quarterly earnings results on Thursday. The company reported ($0.15) 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 for the quarter, compared to analyst estimates of $2.62 million. HyreCar updated its FY 2018 guidance to EPS.

Shares of NASDAQ:HYRE traded down $0.39 during mid-day trading on Friday, reaching $2.15. 267,718 shares of the stock were exchanged, compared to its average volume of 93,626. HyreCar has a one year low of $1.90 and a one year high of $6.50.

An institutional investor recently bought a new position in HyreCar stock. Citadel Advisors LLC acquired a new position in shares of HyreCar Inc (NASDAQ:HYRE) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 26,355 shares of the company’s stock, valued at approximately $133,000. Citadel Advisors LLC owned approximately 0.25% of HyreCar as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 0.49% of the company’s stock.

Separately, Taglich Brothers started coverage on HyreCar in a research report on Wednesday, October 24th. They set a “speculative buy” rating and a $4.00 price target on the stock.

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HyreCar Company Profile

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.

Further Reading: Return on Equity (ROE)

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