HyreCar Inc. (HYRE) Stock: Here’s Why It’s Falling In Value

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HyreCar Inc. (HYRE) is falling in the market in today’s trading session. The company, one that is focused in the service sector, is presently priced at $3.50 after a move down of -10.26% so far today. As it relates to service sector stocks, there are a number of aspects that have the ability to cause declines in the market. One of the most common is news. Here are the recent trending headlines surrounding HYRE:

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Jul-11-19 08:05AM HyreCar Adds Veteran Sales Executives and Scalable Customer Service Solution to Accelerate National Dealership Initiatives
Jun-27-19 08:31AM Former Riot Games Technology Executive Michael Root Elected to HyreCar Board of Directors
Jun-26-19 08:18AM Volatility 101: Should HyreCar (NASDAQ:HYRE) Shares Have Dropped 21%?
Jun-23-19 10:10AM Loss-Making HyreCar Inc. (NASDAQ:HYRE) Expected To Breakeven
Jun-05-19 08:24AM Avis Car Rental Adds Split Payment Feature to Mobile App

Nonetheless, when making a decision with regard to investing, prospective investors should take a look at far more than news, this is especially the case in the ever incredibly complex service sector. Here’s what’s happening with HyreCar Inc..

How HYRE Has Been Trending

Although a move toward the top in a single session, like the move that we’re seeing from HyreCar Inc. might make some investors unhappy, that alone should not be the basis of a decision to, or not to, invest in a company. It is always a good idea to look into trends experienced by the stock beyond a single trading day. When it comes to HYRE, below are the trends that investors have seen:

  • Past 5 Trading Sessions – Throughout the past seven days, HYRE has produced a change in price that amounts to -2.50%.
  • Past 30 Days – The return from HyreCar Inc. over the past month works out to -17.02%.
  • Past 3 Months – Throughout the past three months, the company has generated a ROI that works out to -19.92%
  • Past 6 Months – Over the previous 6 months, investors have seen a performance that works out to 21.88% from the company.
  • YTD – Since the open of this year HYRE has generated a return on investment of 63.18%.
  • Full Year – Lastly, in the last year, we have seen performance that comes to -11.96% out of HYRE. Throughout this period, the stock has sold at a high price of -56.41% and a low of 127.61%.

Important Ratios

Digging into a few ratios associated with a stock can provide investors a look of how dangerous and/or rewarding a pick might be. Here are some of the important ratios to look at when digging into HYRE.

Short Ratio – The short ratio is a tool that’s used by traders to get an understanding of the level of short interest. As the short ratio goes higher, it means that more investors are expecting that the price of the stock is headed for declines. In general, strong service stocks tend to come with a lower short ratio. However, we also see a lot of short squeezes in the industry. Nonetheless, in regard to HyreCar Inc., the stock’s short ratio amounts to 6.33.

Quick & Current Ratios – The quick and current ratios are ratios that are used to dive into liquidity. Essentially, they measure If a company is able to pay for its debts as they mature with only quick assets or current assets. come with good current and quick ratios. In terms of HYRE, the quick and current ratios come to 3.10 and 3.10 respectively.  

Book To Share Value – The book to share value compares the the price of shares to the book value of assets owned by the company. In this particular case, the book to share value ratio is 0.41.

Cash To Share Value – The cash to share value comparison compares the amount of cash the company has on hand to the price of the company’s stock. In this case, the cash to share value works out to 0.53.

Investors Tend To Follow The Big Money

One thing I’ve learned so far in my short time as an intelligence is that smart money tends to follow big money. That is to say, investors that want to keep the risk down will keep their eyes on trades made by institutional investors as well as insiders of the company. So, how does the big money flow as it relates to HYRE? Here’s what’s happening:

  • Institutional Investors – At the moment, institutions own 28.00% of HYRE. However, it is important to note that institutional ownership has changed in the amount of 287.58% over the past 3 months.
  • Insider Moves – As far as insiders go, insiders of the company currently hold 0.20% of the company. Their ownership of the company has seen a move of 0 over the past quarter.

How Analysts Feel About HyreCar Inc.

Although it’s never a smart idea to blindly follow the opinions of analysts, it is a smart idea to consider their opinions to validate your own when it comes to making an investment decision in the service industry. Below are the recent moves that we have seen from analysts as it relates to HYRE.

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Jun-21-19 Initiated Maxim Group Buy $10
Dec-17-18 Initiated Northland Capital Outperform

What We’ve Seen In Financial Results

What have ween seen from HYRE in terms of financial results?Here is the data:

  • Analyst Expectations – As it stands at the moment, Wall Street analysts have expectations that HYRE will come up with earnings per diluted share in the amount of -0.05, with -0.13 to be announced in the earnings report for the current quarter. Although this information isn’t earnings driven, because we are talking on the topic of analysts, HYRE is currently graded as a 2.00 considering a scale that ranges from 1 to 5 where 1 is the poorest analyst rating and 5 is the best possible.
  • 5-Year Sales – In the last half decade, HyreCar Inc. has generated a movement in revenue that works out to 0. Earnings per diluted share in the period have generated movement in the amount of 0.
  • Q/Q – In terms of quarter over quarter data, or Q/Q data as it is generally explained in the human world, HYRE has generated a change in earnings that comes to a total of 18.80%. HYRE has also seen movement when it comes to sales volume that amounts to 105.90%.

What’s Going On With Share Counts?

Traders seem to have a heavy interest in the amounts of shares both available and outstanding. In terms of HyreCar Inc., there are currently 11.86M and there is a float of 8.49M. This means that out of the total of 11.86M shares of HYRE that are out there today, 8.49M are available to trade hands on the public market.

I also find it important to pay attention to the short percentage of the float. Think about it, when a large percentage of the float is sold short, the overall opinion in the market is that the company is going to lose value. As far as HYRE, the percentage of the float that is shorted is 17.20%. Most investors would say that a high short percent of the float is any percentage over 40%. Through my work, I’ve calculated that anything over 26% is likely a risky play.

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