HyreCar (HYRE) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

HyreCar (NASDAQ:HYRE) released its earnings results on Thursday. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.03, Morningstar.com reports. The business had revenue of $3.51 million for the quarter, compared to the consensus estimate of $3.50 million. HyreCar had a negative net margin of 96.10% and a negative return on equity of 146.35%.

Shares of HyreCar stock traded up $0.08 during trading on Friday, hitting $5.14. The stock had a trading volume of 444,008 shares, compared to its average volume of 270,840. The company has a market cap of $62.50 million and a P/E ratio of -3.92. HyreCar has a 1 year low of $1.54 and a 1 year high of $8.03.

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of HyreCar by 37.8% in the first quarter. BlackRock Inc. now owns 7,286 shares of the company’s stock worth $37,000 after acquiring an additional 1,999 shares in the last quarter. Alambic Investment Management L.P. purchased a new position in shares of HyreCar in the first quarter worth approximately $82,000. Spark Investment Management LLC purchased a new position in shares of HyreCar in the first quarter worth approximately $170,000. Jane Street Group LLC increased its position in shares of HyreCar by 300.1% in the fourth quarter. Jane Street Group LLC now owns 108,079 shares of the company’s stock worth $258,000 after acquiring an additional 81,068 shares in the last quarter. Finally, EAM Global Investors LLC purchased a new position in shares of HyreCar in the first quarter worth approximately $910,000. 6.04% of the stock is currently owned by institutional investors and hedge funds.



Separately, Zacks Investment Research raised shares of HyreCar from a “sell” rating to a “hold” rating in a research report on Wednesday, March 20th.

TRADEMARK VIOLATION WARNING: “HyreCar (HYRE) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS” was originally posted by Dakota Financial News and is owned by of Dakota Financial News. If you are viewing this article on another publication, it was illegally stolen and reposted in violation of United States & international trademark and copyright legislation. The original version of this article can be viewed at https://dakotafinancialnews.com/2019/05/11/hyrecar-hyre-posts-quarterly-earnings-results-beats-estimates-by-0-03-eps.html.

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.

Featured Story: What is the NASDAQ?

Receive News & Ratings for HyreCar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HyreCar and related companies with MarketBeat.com's FREE daily email newsletter.