Hertz Global Holdings Inc. [HTZ] Revenue clocked in at $8.33 billion, down -31.77% YTD: What’s Next?

Hertz Global Holdings Inc. [NASDAQ: HTZ] traded at a low on Wednesday, posting a -1.22 loss after which it closed the day’ session at $17.05. The company report on October 19, 2022 that Hertz Partners with Palantir to Drive Operational Excellence and Enhance Customer Experience.

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Hertz (NASDAQ: HTZ) and Palantir Technologies Inc. (NYSE: PLTR, “Palantir”), a leading builder of operating systems for the modern enterprise, today announced a multi-year partnership to help drive operational excellence at Hertz and enhance the customer experience using real-time, data-driven insights. This investment is part of Hertz’s ongoing commitment to modernize its technology platforms to lead in electrification, shared mobility and a digital-first customer experience.

“Technology is an important lever to stay ahead of ever evolving consumer expectations and a key enabler for our strategy to deliver world-class service,” said Tim Langley-Hawthorne, chief information officer at Hertz. “Our partnership with Palantir enables us to harness our data in innovative new ways that will get our customers on the road more quickly, improve our cost structure and reduce the complexities of operating a large fleet and as we continue investing in electrification.”.

The results of the trading session contributed to over 3010678 shares changing hands. Over the past one week, the price volatility of Hertz Global Holdings Inc. stands at 4.71% while the volatility over the past one month is 5.30%.

The market cap for HTZ stock reached $6.25 billion, with 398.00 million shares outstanding and 356.72 million shares in the current float. Compared to the average trading volume of 4.22M shares, HTZ reached a trading volume of 3010678 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Hertz Global Holdings Inc. [HTZ]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HTZ shares is $28.25 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on HTZ stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Oppenheimer have made an estimate for Hertz Global Holdings Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on January 13, 2022. While these analysts kept the previous recommendation, Deutsche Bank raised their target price to Buy. The new note on the price target was released on December 06, 2021, representing the official price target for Hertz Global Holdings Inc. stock. Previously, the target price had yet another raise to $27, while Morgan Stanley analysts kept a Equal-Weight rating on HTZ stock.

The Average True Range (ATR) for Hertz Global Holdings Inc. is set at 0.88, with the Price to Sales ratio for HTZ stock in the period of the last 12 months amounting to 0.75. The Price to Book ratio for the last quarter was 2.49, with the Price to Cash per share for the same quarter was set at 2.84. Price to Free Cash Flow for HTZ in the course of the last twelve months was 2.44.

How has HTZ stock performed recently?

Hertz Global Holdings Inc. [HTZ] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.90. With this latest performance, HTZ shares dropped by -5.80% in over the last four-week period, additionally sinking by -28.66% over the last 6 months – not to mention a drop of -24.22% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for HTZ stock in for the last two-week period is set at 47.62, with the RSI for the last a single of trading hit 49.99, and the three-weeks RSI is set at 46.70 for Hertz Global Holdings Inc. [HTZ]. The present Moving Average for the last 50 days of trading for this stock 18.37, while it was recorded at 16.99 for the last single week of trading, and 19.61 for the last 200 days.

Insider trade positions for Hertz Global Holdings Inc. [HTZ]

There are presently around $6,066 million, or 99.00% of HTZ stock, in the hands of institutional investors. The top three institutional holders of HTZ stocks are: KNIGHTHEAD CAPITAL MANAGEMENT, LLC with ownership of 181,455,469, which is approximately 0% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 17,757,882 shares of the stock with an approximate value of $302.77 million in HTZ stocks shares; and KING STREET CAPITAL MANAGEMENT, L.P., currently with $230.37 million in HTZ stock with ownership of nearly -12.826% of the company’s market capitalization.

134 institutional holders increased their position in Hertz Global Holdings Inc. [NASDAQ:HTZ] by around 39,245,009 shares. Additionally, 103 investors decreased positions by around 39,727,902 shares, while 38 investors held positions by with 276,828,208 shares. The mentioned changes placed institutional holdings at 355,801,119 shares, according to the latest SEC report filing. HTZ stock had 73 new institutional investments in for a total of 9,453,409 shares, while 49 institutional investors sold positions of 14,832,860 shares during the same period.


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