Avis Budget Group June 15th Short Interest Update

Avis Budget Group (NASDAQ:CAR) has seen a rise of 347,266 shares or 1.8% in the short interest. The remaining shorts are 21% of the total floated shares. The net short interest, as on June 15,2016, stood at 19,369,939 shares and the stocks days to cover will be 7 by factoring in the average per day volume of 2,849,623 shares. On May 31,2016, 19,022,673 shares were shorted. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.

Avis Budget Group (NASDAQ:CAR): The stock opened at $33.00 on Friday but the bulls could not build on the opening and the stock topped out at $33.92 for the day. The stock traded down to $31.32 during the day, due to lack of any buying support eventually closed down at $31.71 with a loss of -8.91% for the day. The stock had closed at $34.81 on the previous day. The total traded volume was 3,731,715 shares.

The company shares have dropped -29.52% from its 1 Year high price. On Nov 2, 2015, the shares registered one year high at $53.04 and the one year low was seen on Feb 25, 2016. The 50-Day Moving Average price is $29.71 and the 200 Day Moving Average price is recorded at $28.36.

Avis Budget Group (NASDAQ:CAR) has tumbled 0.97% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 10.14% in the last four weeks. In the past week, the company has outperformed the S&P 500 by 0.68% and the outperformance has advanced to 13.48% for the last 4 weeks period.

Avis Budget Group Inc. is a provider of vehicle rental and car sharing services. The Company operates three brands, which include Avis, Budget and Zipcar. Avis is a rental car supplier and Budget is a rental vehicle supplier. The Company also own Payless, a car rental brand and Apex, which is a car rental brand in New Zealand and Australia. The Company operates in three segments: North America, International and Truck Rental. North America segment provides car rentals in the United States and vehicle rentals in Canada, as well as ancillary products and services. International segment provides and licenses the Companys brands to third parties for vehicle rentals and ancillary products in Europe, the Middle East, Africa, Asia, South America, Central America, the Caribbean, Australia and New Zealand. Truck Rental segment provides truck rentals and ancillary products and services to consumers and commercial users in the United States.

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