HyreCar Inc (HYRE) Expected to Post Quarterly Sales of $4.02 Million
Equities research analysts expect HyreCar Inc (NASDAQ:HYRE) to announce $4.02 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for HyreCar’s earnings, with estimates ranging from $3.98 million to $4.05 million. HyreCar reported sales of $2.27 million in the same quarter last year, which would suggest a positive year over year growth rate of 77.1%. The firm is scheduled to announce its next quarterly earnings results on Monday, August 12th.
According to Zacks, analysts expect that HyreCar will report full-year sales of $19.02 million for the current financial year, with estimates ranging from $18.40 million to $19.63 million. For the next fiscal year, analysts forecast that the business will post sales of $30.90 million, with estimates ranging from $29.18 million to $32.61 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow HyreCar.
HyreCar (NASDAQ:HYRE) last issued its earnings results on Thursday, May 9th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.03. The company had revenue of $3.51 million during the quarter, compared to analysts’ expectations of $3.50 million. HyreCar had a negative return on equity of 160.82% and a negative net margin of 96.10%.
Hedge funds have recently modified their holdings of the stock. Jane Street Group LLC lifted its holdings in HyreCar by 300.1% in the 4th quarter. Jane Street Group LLC now owns 108,079 shares of the company’s stock worth $258,000 after buying an additional 81,068 shares during the period. Spark Investment Management LLC purchased a new stake in HyreCar in the 1st quarter worth approximately $170,000. Alambic Investment Management L.P. purchased a new stake in HyreCar in the 1st quarter worth approximately $82,000. BlackRock Inc. lifted its holdings in HyreCar by 37.8% in the 1st quarter. BlackRock Inc. now owns 7,286 shares of the company’s stock worth $37,000 after buying an additional 1,999 shares during the period. Finally, EAM Global Investors LLC purchased a new stake in HyreCar in the 1st quarter worth approximately $910,000. Institutional investors own 11.63% of the company’s stock.
Shares of HYRE stock opened at $4.20 on Friday. The stock has a market cap of $52.28 million and a P/E ratio of -3.21. HyreCar has a 1-year low of $1.54 and a 1-year high of $8.03.
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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