HyreCar (NASDAQ:HYRE) Lifted to “Buy” at ValuEngine

ValuEngine upgraded shares of HyreCar (NASDAQ:HYRE) from a hold rating to a buy rating in a research report sent to investors on Thursday morning, ValuEngine reports.

Several other analysts also recently commented on HYRE. LADENBURG THALM/SH SH initiated coverage on shares of HyreCar in a research report on Tuesday, July 30th. They issued a buy rating and a $8.25 target price for the company. Northland Securities reissued a buy rating and issued a $8.00 target price on shares of HyreCar in a research report on Tuesday, May 21st. Maxim Group reissued a buy rating and issued a $10.00 target price on shares of HyreCar in a research report on Friday, August 9th. Lake Street Capital initiated coverage on shares of HyreCar in a research report on Wednesday, August 7th. They issued a buy rating and a $9.00 target price for the company. Finally, Zacks Investment Research downgraded shares of HyreCar from a buy rating to a hold rating in a research report on Tuesday, July 23rd. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. HyreCar presently has an average rating of Buy and an average price target of $7.04.

HYRE stock opened at $3.12 on Thursday. HyreCar has a 12 month low of $1.54 and a 12 month high of $8.03. The firm has a 50 day moving average of $3.37 and a two-hundred day moving average of $4.58.

In other HyreCar news, CFO Robert Scott Brogi bought 22,365 shares of HyreCar stock in a transaction dated Wednesday, May 29th. The shares were bought at an average price of $4.00 per share, with a total value of $89,460.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 20.51% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in the stock. Northern Trust Corp acquired a new stake in HyreCar during the 2nd quarter worth approximately $44,000. Alambic Investment Management L.P. bought a new position in shares of HyreCar in the first quarter valued at $82,000. Susquehanna International Group LLP bought a new position in shares of HyreCar in the second quarter valued at $94,000. Spark Investment Management LLC bought a new position in HyreCar during the first quarter worth $170,000. Finally, Balter Liquid Alternatives LLC boosted its position in HyreCar by 9.7% during the second quarter. Balter Liquid Alternatives LLC now owns 142,921 shares of the company’s stock worth $600,000 after purchasing an additional 12,678 shares during the period. Institutional investors and hedge funds own 22.22% of the company’s stock.

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 PassTime to deliver dealer-focused vehicle tracking and inventory management solution.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for HyreCar (NASDAQ:HYRE)

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