HyreCar Inc. [NASDAQ: HYRE] stock went on a downward path that fall over -8.37% on Friday, amounting to a one-week price decrease of less than -3.19%. The company report on June 23, 2021 that HyreCar Announces the Retirement of Scott Brogi and Announces the Appointment of Serge De Bock as Chief Financial Officer.
HyreCar Inc. (NASDAQ: HYRE), the carsharing marketplace for ridesharing, food, and package delivery services, announced the appointment of Serge De Bock, CFA, as Chief Financial Officer. Serge’s appointment follows the retirement of Scott Brogi as the Company’s CFO. Mr. De Bock will begin his tenure as CFO on July 5, 2021.
“Scott has had an immeasurable impact on HyreCar, and his contributions will be long-felt. We wish Scott all the best in his retirement and thank him for his extraordinary leadership,” said Joe Furnari, HyreCar CEO. “We are also excited to have someone of Serge’s background that touches all aspects of our business, mobility as a service, technology and insurance to help us continue moving forward.”.
Over the last 12 months, HYRE stock rose by 561.41%. The one-year HyreCar Inc. stock forecast points to a potential downside of -23.19. 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 $438.35 million, with 19.23 million shares outstanding and 17.01 million shares in the current float. Compared to the average trading volume of 1.15M shares, HYRE stock reached a trading volume of 655936 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 $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 1.66, with the Price to Sales ratio for HYRE stock in the period of the last 12 months amounting to 16.30. The Price to Book ratio for the last quarter was 19.14, with the Price to Cash per share for the same quarter was set at 1.15.
HYRE Stock Performance Analysis:
HyreCar Inc. [HYRE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.19. With this latest performance, HYRE shares gained by 14.66% in over the last four-week period, additionally plugging by 176.05% over the last 6 months – not to mention a rise of 561.41% 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 51.90, with the RSI for the last a single of trading hit 45.33, and the three-weeks RSI is set at 55.18 for HyreCar Inc. [HYRE]. The present Moving Average for the last 50 days of trading for this stock 16.69, while it was recorded at 20.80 for the last single week of trading, and 9.97 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 -60.45 and a Gross Margin at +32.78. HyreCar Inc.’s Net Margin is presently recorded at -60.32.
Return on Total Capital for HYRE is now -704.25, given the latest momentum, and Return on Invested Capital for the company is -1,096.18. Return on Equity for this stock declined to -1,305.14, with Return on Assets sitting at -171.99.
Reflecting on the efficiency of the workforce at the company, HyreCar Inc. [HYRE] managed to generate an average of -$176,987 per employee. Receivables Turnover for the company is 260.06 with a Total Asset Turnover recorded at a value of 2.85.HyreCar Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.20 and a Current Ratio set at 3.20.
HyreCar Inc. [HYRE] Insider Position Details
There are presently around $183 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 10.40% of the total institutional ownership; DRIEHAUS CAPITAL MANAGEMENT LLC, holding 828,559 shares of the stock with an approximate value of $16.33 million in HYRE stocks shares; and VANGUARD GROUP INC, currently with $15.51 million in HYRE stock with ownership of nearly 16.929% of the company’s market capitalization.
Positions in HyreCar Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 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.