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.
Get HyreCar alerts: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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