HyreCar (HYRE) Sees Strong Trading Volume

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HyreCar Inc (NASDAQ:HYRE) shares saw strong trading volume on Friday . 2,554,274 shares were traded during trading, an increase of 420% from the previous session’s volume of 490,859 shares.The stock last traded at $4.15 and had previously closed at $3.48.

Several research analysts have weighed in on HYRE shares. Zacks Investment Research raised shares of HyreCar from a “hold” rating to a “buy” rating and set a $3.00 price target on the stock in a report on Wednesday, December 26th. ValuEngine lowered shares of HyreCar from a “buy” rating to a “hold” rating in a research report on Wednesday, January 2nd. Northland Securities initiated coverage on shares of HyreCar in a research report on Monday, December 17th. They issued an “outperform” rating on the stock. Finally, Taglich Brothers started coverage on shares of HyreCar in a research report on Wednesday, October 24th. They issued a “speculative buy” rating and a $4.00 target price on the stock.

HyreCar (NASDAQ:HYRE) last released its earnings results on Thursday, November 8th. The company reported ($0.15) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.05. The company had revenue of $2.69 million during the quarter, compared to analysts’ expectations of $2.62 million. Research analysts anticipate that HyreCar Inc will post -1.19 earnings per share for the current year.

In other HyreCar news, Director Anshu Bansal sold 400,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 26th. The shares were sold at an average price of $1.50, for a total value of $600,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

An institutional investor recently bought a new position in HyreCar stock. Citadel Advisors LLC purchased a new position in HyreCar Inc (NASDAQ:HYRE) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 26,355 shares of the company’s stock, valued at approximately $133,000. Citadel Advisors LLC owned approximately 0.25% of HyreCar at the end of the most recent reporting period. 0.86% of the stock is currently owned by hedge funds and other institutional investors.

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About HyreCar (NASDAQ:HYRE)

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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