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.
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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