Avis Budget Group Inc (NASDAQ:CAR) shares, rose in value, with the stock price down by -1.61% to the previous day’s close as strong demand from buyers drove the stock to $83.04.
Actively observing the price movement in the last trading, the stock closed the session at $84.40, falling within a range of $80.53 and $84.4. The value of beta (5-year monthly) was 2.129 whereas the PE ratio was 3.94 over 12-month period. Referring to stock’s 52-week performance, its high was $202.50, and the low was $65.73. On the whole, CAR has fluctuated by 18.17% over the past month.
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With the market capitalization of Avis Budget Group Inc currently standing at about $2.96 billion, investors are eagerly awaiting this quarter’s results, scheduled for on 2024-Oct-30.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 11.95B, with a low estimate of 3.48B and a high estimate of 3.61B. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 3.56B.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that CAR’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium-term indicators have put the stock in the category of 100% Sell while long-term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the price of CAR currently trading nearly -3.10% and -0.32% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 46.79, while the 7-day volatility ratio is showing 3.69% which for the 30-day chart, stands at 4.52%. Furthermore, Avis Budget Group Inc (CAR)’s beta value is 2.14, and its average true range (ATR) is 3.98.
A comparison of Avis Budget Group Inc (CAR) with its peers suggests the former has fared considerably weaker in the market. CAR showed an intraday change of -1.61% in last session, and over the past year, it shrunk by -52.58%%.
Data on historical trading for Avis Budget Group Inc (NASDAQ:CAR) indicates that the trading volumes over the past 10 days have averaged 0.49 and over the past 3 months, they’ve averaged 601.26K. According to company’s latest data on outstanding shares, there are 35.00 million shares outstanding.
Nearly 3.11% of Avis Budget Group Inc’s shares belong to company insiders and institutional investors own 98.49% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 2.92 million shares as on 2024-09-30, resulting in a short ratio of 4.28. According to the data, the short interest in Avis Budget Group Inc (CAR) stood at 2260.00 of shares outstanding as of 2024-09-30; the number of short shares registered in 2024-08-30 reached 2.79 million. The stock has fallen by -53.15% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CAR stock heading into the next quarter.
