HyreCar Inc (HYRE) to Post Q2 2020 Earnings of $0.00 Per Share, Taglich Brothers Forecasts

HyreCar Inc (NASDAQ:HYRE) – Equities research analysts at Taglich Brothers reduced their Q2 2020 earnings per share (EPS) estimates for shares of HyreCar in a report issued on Monday, May 20th. Taglich Brothers analyst H. Halpern now forecasts that the company will earn $0.00 per share for the quarter, down from their prior forecast of $0.01. Taglich Brothers also issued estimates for HyreCar’s Q4 2020 earnings at $0.10 EPS.

HyreCar (NASDAQ:HYRE) last released its earnings results on Thursday, May 9th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.03. The firm had revenue of $3.51 million for the quarter, compared to analyst estimates of $3.50 million. HyreCar had a negative return on equity of 160.82% and a negative net margin of 96.10%.

A number of other research firms have also issued reports on HYRE. Zacks Investment Research lowered HyreCar from a “hold” rating to a “sell” rating in a report on Wednesday. Northland Securities reissued a “buy” rating and set a $8.00 price objective on shares of HyreCar in a report on Tuesday.

HYRE opened at $4.20 on Wednesday. The company has a market capitalization of $52.28 million and a price-to-earnings ratio of -3.21. HyreCar has a 12-month low of $1.54 and a 12-month high of $8.03.

Large investors have recently made changes to their positions in the company. Jane Street Group LLC grew its holdings in shares of HyreCar by 300.1% during the 4th quarter. Jane Street Group LLC now owns 108,079 shares of the company’s stock worth $258,000 after purchasing an additional 81,068 shares in the last quarter. EAM Global Investors LLC acquired a new stake in shares of HyreCar during the 1st quarter worth approximately $910,000. Spark Investment Management LLC acquired a new stake in shares of HyreCar during the 1st quarter worth approximately $170,000. Alambic Investment Management L.P. acquired a new stake in shares of HyreCar during the 1st quarter worth approximately $82,000. Finally, Morgan Stanley grew its holdings in shares of HyreCar by 12,714.6% during the 1st quarter. Morgan Stanley now owns 12,302 shares of the company’s stock worth $62,000 after purchasing an additional 12,206 shares in the last quarter. 11.63% of the stock is currently owned by institutional investors.

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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Earnings History and Estimates for HyreCar (NASDAQ:HYRE)

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