HyreCar (HYRE) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

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HyreCar (NASDAQ:HYRE) posted its quarterly earnings results on Thursday. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.05, Morningstar.com reports. The business had revenue of $2.69 million during the quarter, compared to analyst estimates of $2.62 million. HyreCar updated its FY 2018 guidance to EPS.

HYRE stock traded down $0.39 during midday trading on Friday, hitting $2.15. 267,718 shares of the stock were exchanged, compared to its average volume of 93,626. HyreCar has a fifty-two week low of $1.90 and a fifty-two week high of $6.50.

Separately, Taglich Brothers assumed coverage on HyreCar in a report on Wednesday, October 24th. They issued a “speculative buy” rating and a $4.00 price target for the company.

An institutional investor recently bought a new position in HyreCar stock. Citadel Advisors LLC acquired a new position in shares of HyreCar Inc (NASDAQ:HYRE) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 26,355 shares of the company’s stock, valued at approximately $133,000. Citadel Advisors LLC owned about 0.25% of HyreCar as of its most recent filing with the Securities & Exchange Commission. 0.49% of the stock is currently owned by institutional investors and hedge funds.

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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.

Read More: What is the Book Value of a Share?

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