Hertz Stock Bucks Sector Selloff

Short sellers have flocked to HTZ in recent weeks

Digital Content Manager
Mar 19, 2020 at 10:52 AM
facebook twitter linkedin


Hertz Global Holdings Inc (NYSE:HTZ) seems to be skipping out on the selloff the car rental sector is currently experiencing as restrictions put in place amid coronavirus concerns severely limit travel. The stock is now up 17.46% at $3.97, though the reason for this massive pop is not quite clear. This surge comes just one day after the equity hit an all-time low of $3.18, while the equity now appears to be bouncing off the $3.50 region. 

Among the brokerage bunch, sentiment is somewhat cautious. Of the six in coverage, only two consider HTZ a "strong buy." Meanwhile, the consensus 12-month price target of $18.14 is nearly quadruple current levels. 

Short sellers have been piling on Hertz. Short interest is up 19.3% in the last reporting period, and now makes up almost 13% of the stock's available float, or 5.7 days of trading at its average pace. It should be noted, however, that Hertz is sitting on the short-sale restricted (SSR) list today. 

 

If you are not making money with options, you aren’t buying options like this…

There is no options strategy that more perfectly approaches trading the fastest moving and most volatile stocks available in the marketplace than this one. In fact, there is no strategy that better utilizes put options for optimal returns and a real trading edge over other traders in the exact same market. New options traders fail out at an incredible rate without proper trade research, execution timing, and option picking. Capitalize on Schaeffer’s 100+ years of options trading excellence with the most coveted product launch in company history. Don't waste another second... join us right now before the next round of trades are released!

 


 


 
Special Offers from Schaeffer's Trading Partners