HyreCar Inc. (NASDAQ:HYRE – Get Rating) was the recipient of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 1,920,000 shares, a decrease of 8.6% from the August 15th total of 2,100,000 shares. Based on an average daily trading volume, of 2,470,000 shares, the days-to-cover ratio is currently 0.8 days.
HyreCar Trading Down 21.5 %
HYRE opened at $1.06 on Wednesday. HyreCar has a 1-year low of $0.56 and a 1-year high of $9.74. The company has a market cap of $23.29 million, a P/E ratio of -1.22 and a beta of 2.68. The company's 50 day moving average is $0.96 and its 200-day moving average is $1.32.
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HyreCar (NASDAQ:HYRE – Get Rating) last issued its earnings results on Monday, August 15th. The company reported ($0.20) earnings per share (EPS) for the quarter. HyreCar had a negative return on equity of 598.93% and a negative net margin of 48.69%. The firm had revenue of $10.51 million during the quarter. On average, equities analysts forecast that HyreCar will post -0.83 EPS for the current year.
Insider Buying and Selling at HyreCar
In other news, CFO Bock Serge De sold 29,025 shares of HyreCar stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $1.16, for a total transaction of $33,669.00. Following the completion of the transaction, the chief financial officer now directly owns 158,204 shares in the company, valued at approximately $183,516.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through
this hyperlink. Insiders own 9.09% of the company's stock.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the company. Meridian Wealth Management LLC raised its stake in HyreCar by 100.0% during the 1st quarter. Meridian Wealth Management LLC now owns 20,000 shares of the company's stock worth $48,000 after buying an additional 10,000 shares during the period. Jane Street Group LLC bought a new stake in HyreCar during the 2nd quarter worth approximately $63,000. Renaissance Technologies LLC boosted its position in shares of HyreCar by 1,458.5% during the second quarter. Renaissance Technologies LLC now owns 344,300 shares of the company's stock valued at $210,000 after buying an additional 322,208 shares during the last quarter. Millennium Management LLC bought a new stake in HyreCar during the second quarter worth $466,000. Finally, DSC Advisors L.P. grew its stake in shares of HyreCar by 475.0% in the 4th quarter. DSC Advisors L.P. now owns 115,000 shares of the company's stock worth $542,000 after acquiring an additional 95,000 shares in the last quarter. Institutional investors own 55.06% of the company's stock.
HyreCar Company Profile
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HyreCar Inc, together with subsidiaries, operates a web-based car-sharing marketplace in the United States. Its marketplace allows car and fleet owners to rent their idle cars to ride-sharing service drivers, such as Uber and Lyft drivers. HyreCar Inc was incorporated in 2014 and is headquartered in Los Angeles, California.
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