HyreCar (HYRE) Rating Increased to Hold at Zacks Investment Research
HyreCar (NASDAQ:HYRE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “HyreCar Inc. operates as a platform as a service company. It offers a car-sharing platform which allows car owners to rent their idle cars to ride-sharing service drivers. HyreCar Inc. is based in Los Angeles, United States. “
A number of other equities research analysts have also commented on HYRE. Northland Securities started coverage on shares of HyreCar in a report on Monday, December 17th. They set an “outperform” rating on the stock. ValuEngine lowered shares of HyreCar from a “buy” rating to a “hold” rating in a report on Wednesday, January 2nd.
In other HyreCar news, Director Anshu Bansal sold 400,000 shares of HyreCar stock in a transaction on Wednesday, December 26th. The shares were sold at an average price of $1.50, for a total value of $600,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
An institutional investor recently raised its position in HyreCar stock. Jane Street Group LLC grew its position in HyreCar Inc (NASDAQ:HYRE) by 300.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 108,079 shares of the company’s stock after acquiring an additional 81,068 shares during the period. Jane Street Group LLC owned about 0.92% of HyreCar worth $258,000 at the end of the most recent quarter. 6.25% of the stock is currently owned by hedge funds and other 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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