As of Wednesday close, HyreCar Inc.’s (NASDAQ:HYRE) stock was down -$0.01, moving down -0.83 percent to $0.61. The average number of shares traded per day over the past five days has been 165,900 shares. 4 times new highs have been achieved over the past 5 days, with a $0.0230 gain in that time frame. In the last twenty days, the average volume was 184,225, while in the previous 50 days, it was 433,898.
Since last month, HYRE stock retreated -14.85%. Shares of the company fell to $0.5800 on 11/23/22, the lowest level in the past month. A 52-week high of $5.83 was reached on 01/04/22 after having rallying from a 52-week low of $0.56. Since the beginning of this year, HYRE’s stock price has dropped by -86.99% or -$4.0970, and marked a new high 2 times. However, the stock has declined by -89.49% since its 52-week high.
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HYRE stock investors should be aware that HyreCar Inc. (HYRE) stock had its last reported insider trading activity 72 days ago on Sep 13. Allan Brian, the President of the company, purchased of 10,000 shares for $1.18 on Sep 13. It resulted in a $11,809 investment by the insider. De Bock Serge sold 29,025 shares at an average price of $1.16 on Sep 13. The insider now owns 158,204 shares following the transaction. On Sep 07, 10% Owner Arctis Global LLC bought 1,157,943 shares at $0.86 apiece. The transaction was valued at $1,000,000.
The stock’s beta is 2.24. Besides these, the trailing price-to-sales (P/S) ratio of 0.45, the price-to-book (PB) ratio of 6.81.
In the three months ended September 29, HyreCar Inc.’s quick ratio stood at 0.90, while its current ratio was 0.90, showing that the company is not able to pay off its debt. On the profitability front, the trailing twelve-month gross margin is 34.60% percent. In the year ended September 29, operating margins totaled -50.90%. Based on annual data, HYRE earned $9.77 million in gross profit and brought in $35.72 million in revenue.
According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. HYRE’s revenue rose 6.04% to $10.51 million during the quarter, while net income inched up to $10.27 million. While analysts expected HyreCar Inc. to report -$0.19 quarterly earnings, the actual figure was -$0.23 per share, beating the consensus estimate by -21.10%. During the quarter, the company generated -$5.34 million in EBITDA. The liabilities of HyreCar Inc. were 15.43 million at the end of its most recent quarter ended September 29, and its total debt was $1.32 million. The value of shareholders’ equity is $30.41 million.
This quick technical analysis looks at HyreCar Inc.’s (HYRE) price momentum. With a historical volatility rate of 61.12%, the RSI 9-day stood at 32.41% on 23 November.
With respect to its five-day moving average, the current HyreCar Inc. price is up by +3.90% percent or $0.0230. At present, HYRE shares trade -16.44% below its 20-day simple moving average and -12.43% percent below its 100-day simple moving average. However, the stock is currently trading approximately -51.73% below its SMA50 and -81.37% below its SMA200.
Stochastic coefficient K was 15.99% and Stochastic coefficient D was 12.98%, while ATR was 0.0573. Given the Stochastic reading of 17.98% for the 14-day period, the RSI (14) reading has been calculated as 35.04%. As of today, the MACD Oscillator reading stands at -0.0156, while the 14-day reading stands at -0.0395.
Ladenburg Thalmann upgraded its rating on HyreCar Inc. (NASDAQ: HYRE) to a Buy in a note to investors on November 10, 2021. The analysts firm previously had a Neutral rating on the stock.HyreCar Inc. (HYRE) has been rated Buy by analysts. According to 0 brokerage firms, HYRE is a sell, and 0 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate HyreCar Inc. stock as buy, with 4 recommending it as overweight.
With a median target price of $4.50, the current consensus forecast for the stock is $3.00 – $7.00. Based on these forecasts, analysts predict HyreCar Inc. (HYRE) will achieve an average price target of $4.75.