HyreCar Inc. [NASDAQ: HYRE] stock went on an upward path that rose over 8.79% on Monday, amounting to a one-week price increase of more than 10.01%. The company report on December 7, 2020 that HyreCar Selects Aon as Its Risk Management Partner.
HyreCar Inc. (NASDAQ: HYRE), the carsharing marketplace for ridesharing and delivery, announced that Aon (NYSE: AON), a leading global professional services firm providing a broad range of risk, retirement and health solutions, will serve as its digital economy broker of record as it expands its carsharing services.
Aon is a leader in the digital economy space, with a specialized team dedicated to Transportation as a Service clientele. Aon’s Digital Economy team serves the preeminent companies in this space on a global basis, utilizing insurance as a strategic differentiator for the platform economy. Aon will be supporting HyreCar with enhancing and creating a sophisticated risk management strategy that is well positioned for growth.
Over the last 12 months, HYRE stock rose by 251.35%. The one-year HyreCar Inc. stock forecast points to a potential downside of -10.01. The average equity rating for HYRE stock is currently 1.70, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $133.30 million, with 17.71 million shares outstanding and 14.06 million shares in the current float. Compared to the average trading volume of 254.66K shares, HYRE stock reached a trading volume of 2244749 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on HyreCar Inc. [HYRE]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HYRE shares is $7.09 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on HYRE stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Maxim Group have made an estimate for HyreCar Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 11, 2019. While these analysts kept the previous recommendation, Maxim Group raised their target price to Buy. The new note on the price target was released on June 21, 2019, representing the official price target for HyreCar Inc. stock.
The Average True Range (ATR) for HyreCar Inc. is set at 0.60, with the Price to Sales ratio for HYRE stock in the period of the last 12 months amounting to 5.80. The Price to Book ratio for the last quarter was 780.00, with the Price to Cash per share for the same quarter was set at 0.40.
HYRE Stock Performance Analysis:
HyreCar Inc. [HYRE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 10.01. With this latest performance, HYRE shares gained by 88.41% in over the last four-week period, additionally plugging by 205.88% over the last 6 months – not to mention a rise of 251.35% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for HYRE stock in for the last two-week period is set at 78.18, with the RSI for the last a single of trading hit 80.63, and the three-weeks RSI is set at 76.38 for HyreCar Inc. [HYRE]. The present Moving Average for the last 50 days of trading for this stock 4.70, while it was recorded at 7.12 for the last single week of trading, and 3.16 for the last 200 days.
Insight into HyreCar Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and HyreCar Inc. [HYRE] shares currently have an operating margin of -80.04 and a Gross Margin at +37.92. HyreCar Inc.’s Net Margin is presently recorded at -78.96.
Return on Total Capital for HYRE is now -207.97, given the latest momentum, and Return on Invested Capital for the company is -205.16. Return on Equity for this stock declined to -205.16, with Return on Assets sitting at -133.23.
Reflecting on the efficiency of the workforce at the company, HyreCar Inc. [HYRE] managed to generate an average of -$145,563 per employee. Receivables Turnover for the company is 128.98 with a Total Asset Turnover recorded at a value of 1.69.HyreCar Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.10.
HYRE Stock EPS
With the latest financial reports released by the company, HyreCar Inc. posted -0.31/share EPS, while the average EPS was predicted by analysts to be reported at -0.18/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -72.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for HYRE.
HyreCar Inc. [HYRE] Insider Position Details
There are presently around $44 million, or 34.80% of HYRE stock, in the hands of institutional investors. The top three institutional holders of HYRE stocks are: LYNROCK LAKE LP with ownership of 1,692,649, which is approximately 5.784% of the company’s market cap and around 20.70% of the total institutional ownership; G2 INVESTMENT PARTNERS MANAGEMENT LLC, holding 1,089,730 shares of the stock with an approximate value of $8.5 million in HYRE stocks shares; and FRIESS ASSOCIATES LLC, currently with $4.88 million in HYRE stock with ownership of nearly 0% of the company’s market capitalization.
Positions in HyreCar Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 16 institutional holders increased their position in HyreCar Inc. [NASDAQ:HYRE] by around 386,773 shares. Additionally, 14 investors decreased positions by around 334,716 shares, while 8 investors held positions by with 4,909,454 shares. The mentioned changes placed institutional holdings at 5,630,943 shares, according to the latest SEC report filing. HYRE stock had 8 new institutional investments in for a total of 97,951 shares, while 6 institutional investors sold positions of 145,052 shares during the same period.