The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Hertz Global Holdings Inc. shares valued at $1,114,100 were purchased by West W Gilbert on Apr 30 ’24. At $4.46 per share, West W Gilbert acquired 250,000 shares. The insider’s holdings grew to 2,160,369 shares worth approximately $9.66 million following the completion of this transaction.
Also, Leef Eric sold 1,946 shares, netting a total of over 31,584 in proceeds. Following the sale of shares at $16.23 each, the insider now holds 55,723 shares.
As published in a research note from BofA Securities on April 26, 2024, Hertz Global Holdings Inc. [HTZ] has been rated down from a Neutral to an Underperform and the price target has been revised to $3 from $9. Analysts at Goldman downgraded the stock from ‘”a Neutral”‘ to ‘”a Sell”‘ outlook in a report released in early April. As of March 19, 2024, BofA Securities has initiated its “Neutral” rating for HTZ. Earlier on February 08, 2024, Morgan Stanley downgraded its rating. Their new recommendation was “an Equal-weight” for HTZ stock which previously was a “an Overweight”.
Analyzing HTZ Stock Performance
During the last five days, there has been a drop of approximately -22.93%. Over the course of the year, Hertz Global Holdings Inc. shares have dropped approximately -56.98%. Shares of the company reached a 52-week high of $10.62 on 01/02/24 and a 52-week low of $4.35 on 04/25/24. A 50-day SMA is recorded $7.00, while a 200-day SMA reached $10.60. Nevertheless, trading volume fell to 9.37 million shares from 13.51 million shares the previous day.
Support And Resistance Levels for Hertz Global Holdings Inc. (HTZ)
According to the 24-hour chart, there is a support level at 4.37, which, if violated, would cause prices to drop to 4.27. In the upper region, resistance lies at 4.60. The next price resistance is at 4.72. RSI (Relative Strength Index) is 26.55 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.03, which suggests the price will decrease in the coming days. Percent R is at 95.70%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
