HyreCar Inc (NASDAQ:HYRE) Expected to Post Earnings of -$0.14 Per Share

Wall Street brokerages expect HyreCar Inc (NASDAQ:HYRE) to announce earnings per share (EPS) of ($0.14) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for HyreCar’s earnings, with estimates ranging from ($0.14) to ($0.13). HyreCar reported earnings of ($0.92) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 84.8%. The business is expected to report its next earnings results on Monday, August 12th.

According to Zacks, analysts expect that HyreCar will report full year earnings of ($0.40) per share for the current fiscal year, with EPS estimates ranging from ($0.42) to ($0.37). For the next financial year, analysts forecast that the firm will post earnings of $0.04 per share, with EPS estimates ranging from ($0.05) to $0.12. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover HyreCar.

HyreCar (NASDAQ:HYRE) last issued its earnings results on Thursday, May 9th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.03. The company had revenue of $3.51 million during the quarter, compared to analyst estimates of $3.50 million. HyreCar had a negative return on equity of 160.82% and a negative net margin of 96.10%.

A number of research analysts recently issued reports on HYRE shares. Zacks Investment Research lowered HyreCar from a “hold” rating to a “sell” rating in a research report on Thursday, February 21st. Northland Securities restated a “buy” rating and set a $8.00 price objective on shares of HyreCar in a research report on Tuesday, May 21st.

In other HyreCar news, CFO Robert Scott Brogi purchased 22,365 shares of HyreCar stock in a transaction on Wednesday, May 29th. The stock was bought at an average price of $4.00 per share, for a total transaction of $89,460.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 20.51% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. EAM Global Investors LLC bought a new stake in shares of HyreCar in the 1st quarter worth $910,000. Jane Street Group LLC raised its stake in shares of HyreCar by 300.1% in the 4th quarter. Jane Street Group LLC now owns 108,079 shares of the company’s stock worth $258,000 after buying an additional 81,068 shares in the last quarter. Alambic Investment Management L.P. bought a new stake in shares of HyreCar in the 1st quarter worth $82,000. Morgan Stanley raised its stake in shares of HyreCar by 12,714.6% in the 1st quarter. Morgan Stanley now owns 12,302 shares of the company’s stock worth $62,000 after buying an additional 12,206 shares in the last quarter. Finally, BlackRock Inc. raised its stake in shares of HyreCar by 37.8% in the 1st quarter. BlackRock Inc. now owns 7,286 shares of the company’s stock worth $37,000 after buying an additional 1,999 shares in the last quarter. 22.09% of the stock is currently owned by institutional investors.

Shares of HYRE traded down $0.04 during mid-day trading on Friday, hitting $4.54. The stock had a trading volume of 543 shares, compared to its average volume of 218,360. The firm has a market cap of $55.00 million and a price-to-earnings ratio of -3.46. HyreCar has a fifty-two week low of $1.54 and a fifty-two week high of $8.03.

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.

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Earnings History and Estimates for HyreCar (NASDAQ:HYRE)

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