StockNews.com Initiates Coverage on HireRight (NYSE:HRT)

StockNews.com started coverage on shares of HireRight (NYSE:HRT) in a report issued on Sunday. The brokerage set a “hold” rating on the stock.

Separately, Needham & Company LLC reiterated a “hold” rating on shares of HireRight in a report on Friday, February 16th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, HireRight presently has an average rating of “Hold” and an average price target of $12.50.

HireRight Stock Performance

Shares of HRT opened at $14.35 on Friday. The stock has a market cap of $40.47 million, a PE ratio of -57.40 and a beta of 0.17. HireRight has a fifty-two week low of $8.50 and a fifty-two week high of $14.38. The firm’s 50-day simple moving average is $14.25 and its two-hundred day simple moving average is $12.95.

HireRight (NYSE:HRT) last posted its quarterly earnings results on Tuesday, March 12th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. The firm had revenue of $166.04 million for the quarter, compared to analysts’ expectations of $170.35 million.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund lifted its position in HireRight by 328.5% during the fourth quarter. New York State Common Retirement Fund now owns 5,125 shares of the company’s stock valued at $69,000 after purchasing an additional 3,929 shares during the period. SG Americas Securities LLC bought a new position in HireRight during the fourth quarter valued at approximately $106,000. Dark Forest Capital Management LP bought a new position in HireRight during the third quarter valued at approximately $118,000. Keybank National Association OH bought a new position in HireRight during the third quarter valued at approximately $121,000. Finally, FNY Investment Advisers LLC bought a new position in HireRight during the fourth quarter valued at approximately $174,000. Institutional investors own 12.49% of the company’s stock.

HireRight Company Profile

HireRight Holdings Corporation provides technology-driven workforce risk management and compliance solutions worldwide. It offers background screening, verification, identification, monitoring, and drug and health screening services for customers under the HireRight brand name. The company provides its services through software and data platform that integrates into its customers' human capital management systems enabling workflows for workforce hiring, onboarding, and monitoring.