HyreCar (NASDAQ:HYRE) Shares Down 1.2%

HyreCar Inc. (NASDAQ:HYREGet Rating)’s share price was down 1.2% on Thursday . The stock traded as low as $0.65 and last traded at $0.70. Approximately 310,465 shares traded hands during mid-day trading, an increase of 33% from the average daily volume of 234,111 shares. The stock had previously closed at $0.71.

Several analysts have recently weighed in on HYRE shares. Northland Securities dropped their price target on shares of HyreCar from $18.00 to $7.00 in a research note on Wednesday, March 16th. Maxim Group dropped their price target on shares of HyreCar from $8.00 to $4.00 in a research note on Wednesday, May 18th. Finally, DA Davidson dropped their price target on shares of HyreCar from $16.00 to $6.00 and set a “buy” rating for the company in a research note on Wednesday, March 16th.

The stock has a market cap of $15.26 million, a PE ratio of -0.63 and a beta of 2.82. The stock’s 50-day moving average is $1.17 and its two-hundred day moving average is $2.58.

Large investors have recently bought and sold shares of the stock. Meridian Wealth Management LLC purchased a new position in HyreCar in the 4th quarter valued at approximately $47,000. Two Sigma Advisers LP boosted its position in HyreCar by 60.3% in the 3rd quarter. Two Sigma Advisers LP now owns 43,600 shares of the company’s stock valued at $371,000 after buying an additional 16,400 shares during the period. Cubist Systematic Strategies LLC boosted its position in HyreCar by 353.7% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 87,708 shares of the company’s stock valued at $746,000 after buying an additional 68,378 shares during the period. Two Sigma Investments LP boosted its position in HyreCar by 542.8% in the 3rd quarter. Two Sigma Investments LP now owns 187,365 shares of the company’s stock valued at $1,593,000 after buying an additional 158,218 shares during the period. Finally, P.A.W. Capital Corp boosted its position in HyreCar by 33.3% in the 4th quarter. P.A.W. Capital Corp now owns 240,000 shares of the company’s stock valued at $1,130,000 after buying an additional 60,000 shares during the period. 66.01% of the stock is owned by hedge funds and other institutional investors.

About HyreCar (NASDAQ:HYRE)

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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