Hertz Global Holdings Share Price Forecast March 2022 – Time to Buy HTZ?

The shares of car rental company Hertz Global Holdings are in trading in the green today. Hertz shares (HTZ) closed at $21.94 yesterday on 22nd March with an uptrend of 0.55% on NASDAQ after going through several ups and downs. Hertz is headquartered in Estero, FL, and has been engaged with the car rental service since 1918. In the recent past, HTZ has gone through several ups and downs. But things are beginning to look clearer in the future. Let’s take a detailed look into its technical analysis to determine whether you should buy HTZ or not.

Hertz Global Holdings – Technical Analysis

According to the fundamental statement of Hertz Global Holdings, the Florida-based car rental services company currently has a market capitalization worth $9.4 billion. Last year, the company acquired $7.3 billion in revenue which was a total of $5.26 billion in 2020.

Several reliable technical indicators that guide market participants are supporting the current uptrend of Hertz shares. Both oscillators and moving averages are indicating a positive and buy price action for the company’s shares. Its Relative Strength Index (55.91), Exponential Moving Average (21.69), Simple Moving Average (21.86), Momentum (3.35), and MACD (0.62) put HTZ in a strong buy zone for the next 24 hours. But as seen in its previous week’s performance there are no guarantees that buying HTZ further would remain a profitable decision.

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Recent Developments

Hertz is a subsidiary of its parent company called Rental Car Immediate Holdings, LLC. It currently has a lot of competitors active within the space such as Avis. The pandemic dealt a deadly blow on Hertz as it struggled with increased debt. But soon after, the company got back on its feet as the surge of prices in rental and used cars started to take effect. Though Hertz was an early victim of the pandemic situation its recovery saw more than 200,000 vehicles being sold off due to high demand.

Since 2021, the company’s turnaround has been nothing less than remarkable for a business that was close to bankruptcy and struggling to survive. Hertz shed more than $5 billion in debt for the resolution of its bankruptcy according to Nytimes news report. Recently, the company announced its intent to issue 3 new series of rental car asset-backed notes.

In February, Hertz shared a new record adjusted profit for Q4 2021 depicting that the demand for rental cars remained strong. But the company did suffer a considerably large net loss due to the post-bankruptcy restructuring costs. The news brought down HTZ by 8% during the after-hours trading but later on, the losses went down by 1%. Hertz’s interim CEO said last month that their current goal is to grow their fleet of rental cars profitably.

Should You Buy HTZ Shares?

Hertz shared its adjusted earnings on December 31 as $628 million which turned out to exceed the expectations of analysts from Refinitiv data by several million. For the record, investors tend to pay attention to shares that did not suffer a considerable loss recently before while determining profitable share market opportunities. In that case, Hertz would not be your favourite pick as the company recorded a $260 million loss.

Still, the share market return of this 1918-established company is as impressive as it is encouraging for investors. The company’s president and chief executive said in a statement that Hertz’s solid foundation and 103-year old history of service provides an outstanding potential to stay in business for the long term.

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