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

Analysts at StockNews.com began coverage on shares of HireRight (NYSE:HRT) in a research note issued on Saturday. The brokerage set a “hold” rating on the stock.

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

HireRight Stock Performance

Shares of HireRight stock opened at $14.29 on Friday. The stock has a 50-day moving average price of $14.23 and a 200 day moving average price of $12.75. The company has a market cap of $40.30 million, a P/E ratio of -57.16 and a beta of 0.17. HireRight has a 1 year low of $8.50 and a 1 year high of $14.38.

HireRight (NYSE:HRT) last announced its quarterly earnings data on Tuesday, March 12th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.03. The business had revenue of $166.04 million during the quarter, compared to analysts’ expectations of $170.35 million.

Institutional Investors Weigh In On HireRight

Hedge funds and other institutional investors have recently made changes to their positions in the company. New York State Common Retirement Fund raised its stake in shares of HireRight by 328.5% in the 4th quarter. New York State Common Retirement Fund now owns 5,125 shares of the company’s stock valued at $69,000 after acquiring an additional 3,929 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of HireRight in the 4th quarter valued at approximately $106,000. Dark Forest Capital Management LP bought a new position in shares of HireRight in the 3rd quarter valued at approximately $118,000. Keybank National Association OH bought a new position in shares of HireRight in the 3rd quarter valued at approximately $121,000. Finally, FNY Investment Advisers LLC bought a new position in shares of HireRight in the 4th quarter valued at approximately $174,000. 12.49% of the stock is owned by hedge funds and other institutional investors.

About HireRight

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.