Is HyreCar Inc. (HYRE) a good stock to buy now?

HyreCar Inc. (NASDAQ: HYRE) is 49.16% higher on its value in year-to-date trading and has touched a low of $0.88 and a high of $16.27 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The HYRE stock was last observed hovering at around $11.84 in the last trading session, with the day’s loss setting it -1.19% off its average median price target of $17.00 for the next 12 months. It is also 43.95% off the consensus price target high of $19.00 offered by 4 analysts, but current levels are 18.08% higher than the price target low of $13.00 for the same period.

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Currently trading at $10.65, the stock is -5.75% and 17.33% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.06 million and changing -10.05% at the moment leaves the stock 113.36% off its SMA200. HYRE registered 183.24% gain for a year compared to 6-month gain of 173.08%. The firm has a 50-day simple moving average (SMA 50) of $9.91 and a 200-day simple moving average (SMA200) of $6.05.

The stock witnessed a 34.64% loss in the last 1 month and extending the period to 3 months gives it a 70.95%, and is -17.19% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 12.43% over the week and 15.23% over the month.

HyreCar Inc. (HYRE) has around 86 employees, a market worth around $206.18M and $23.00M in sales. Profit margin for the company is -64.80%. Distance from 52-week low is 1110.23% and -34.54% from its 52-week high. The company has generated returns on investments over the last 12 months (-186.60%).

HyreCar Inc. (HYRE) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for HyreCar Inc. (HYRE) is a “Buy”. 4 analysts offering their recommendations for the stock have an average rating of 1.70, where 0 rate it as a Hold and 0 think it is a “Overweight”. 4 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

HyreCar Inc. is expected to release its quarterly report on 05/13/2021 and quarterly earnings per share for the current quarter are estimated at -$0.16 with sales reaching $6.84M over the same period.The EPS is expected to grow by 31.70% this year, but quarterly earnings will post 57.80% year-over-year. Quarterly sales are estimated to grow 39.60% in year-over-year returns.

HyreCar Inc. (HYRE) Top Institutional Holders

38 institutions hold shares in HyreCar Inc. (HYRE), with 3.04M shares held by insiders accounting for 17.14% while institutional investors hold 41.95% of the company’s shares. The shares outstanding are 17.71M, and float is at 16.96M with Short Float at 2.62%. Institutions hold 34.76% of the Float.

The top institutional shareholder in the company is Lynrock Lake LP with over 1.23 million shares valued at $8.82 million. The investor’s holdings represent 6.07% of the HYRE Shares outstanding. As of Dec 30, 2020, the second largest holder is G2 Investment Partners Management LLC with 0.97 million shares valued at $6.95 million to account for 4.79% of the shares outstanding. The other top investors are Vanguard Group, Inc. (The) which holds 0.67 million shares representing 3.31% and valued at over $4.81 million, while Portolan Capital Management, LLC holds 3.14% of the shares totaling 0.64 million with a market value of $4.56 million.

HyreCar Inc. (HYRE) Insider Activity

A total of 1 insider transactions have happened at HyreCar Inc. (HYRE) in the last six months, with sales accounting for 0 and purchases happening 1 times. The most recent transaction is an insider purchase by Brogi Robert Scott, the company’s Chief Financial Officer. SEC filings show that Brogi Robert Scott bought 3,750 shares of the company’s common stock on Sep 28 at a price of $3.20 per share for a total of $12000.0. Following the purchase, the insider now owns 0.16 million shares.

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