HyreCar Inc. [NASDAQ: HYRE] closed the trading session at $14.60 on 05/25/21. The day’s price range saw the stock hit a low of $14.22, while the highest price level was $17.2699. The company report on May 20, 2021 that HyreCar Renews Insurance Program with Lloyd’s Apollo Insurance Syndicate until 2023.
HyreCar Inc. (NASDAQ: HYRE), the carsharing marketplace for ridesharing and delivery, announced that it has renewed its Automobile Liability Insurance Program with Apollo 1969 of Lloyd’s until 2023 at our current rates, providing stable predictable insurance pricing for the next two years.
“HyreCar has developed an enhanced risk tiering model at the most granular level available. We use driving efficiency and safety data as a key component in our dynamic pricing model that helps ensure we rent to the right drivers and reduce the cost of insurance at the same time. HyreCar is continuously working towards building a safer rental experience for our vehicle supply partners. Insurance is a key component of our model that this partnership reflects all the hard work we have done over the last year to ensure favorable insurance rates for all of our partners,” said Joe Furnari, Chief Executive Officer of HyreCar.
The stocks have a year to date performance of 104.48 percent and weekly performance of -0.34 percent. The stock has been moved at 144.15 percent over the last six months. The stock has performed 4.96 percent around the most recent 30 days and changed 32.25 percent over the most recent 3-months.
If compared to the average trading volume of 966.12K shares, HYRE reached to a volume of 1691433 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about 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 $16.00 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.
Ladenburg Thalmann have made an estimate for HyreCar Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 29, 2021. The new note on the price target was released on January 21, 2021, representing the official price target for HyreCar Inc. stock. Previously, the target price had yet another drop from $10 to $7, while Maxim Group kept a Buy rating on HYRE stock.
The Average True Range (ATR) for HyreCar Inc. is set at 1.69, with the Price to Sales ratio for HYRE stock in the period of the last 12 months amounting to 11.02. The Price to Book ratio for the last quarter was 14.17, with the Price to Cash per share for the same quarter was set at 1.26.
HYRE stock trade performance evaluation
HyreCar Inc. [HYRE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.34. With this latest performance, HYRE shares gained by 4.96% in over the last four-week period, additionally plugging by 144.15% over the last 6 months – not to mention a rise of 540.35% 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 54.37, with the RSI for the last a single of trading hit 51.89, and the three-weeks RSI is set at 55.30 for HyreCar Inc. [HYRE]. The present Moving Average for the last 50 days of trading for this stock 12.05, while it was recorded at 16.78 for the last single week of trading, and 7.86 for the last 200 days.
HyreCar Inc. [HYRE]: An insightful look at the core fundamentals
HyreCar Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.20 and a Current Ratio set at 3.20.
Earnings per share (EPS) analysis for HyreCar Inc. [HYRE] stock
With the latest financial reports released by the company, HyreCar Inc. posted -0.22/share EPS, while the average EPS was predicted by analysts to be reported at -0.2/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -10.00%. 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 Ownership positions
There are presently around $136 million, or 49.70% of HYRE stock, in the hands of institutional investors. The top three institutional holders of HYRE stocks are: LYNROCK LAKE LP with ownership of 1,506,666, which is approximately 22.028% of the company’s market cap and around 9.30% of the total institutional ownership; DRIEHAUS CAPITAL MANAGEMENT LLC, holding 828,559 shares of the stock with an approximate value of $12.1 million in HYRE stocks shares; and VANGUARD GROUP INC, currently with $11.49 million in HYRE stock with ownership of nearly 16.929% of the company’s market capitalization.
40 institutional holders increased their position in HyreCar Inc. [NASDAQ:HYRE] by around 3,460,314 shares. Additionally, 23 investors decreased positions by around 880,698 shares, while 3 investors held positions by with 4,968,043 shares. The mentioned changes placed institutional holdings at 9,309,055 shares, according to the latest SEC report filing. HYRE stock had 18 new institutional investments in for a total of 2,032,870 shares, while 10 institutional investors sold positions of 181,431 shares during the same period.