51 F
New York
Tuesday, April 20, 2021

Why Hertz [NYSE: HTZ] Stock Kept Soaring Today?

Must read

Equinox Announces Sale of Pilar Gold Mine

Equinox Gold Corp. revealed Monday that it has decided to sell its Pilar Gold Mine in Brazil to Pilar Gold Inc. The firm...

OpGen [NASDAQ: OPGN] Announces Strategic Collaboration New York State Department of Health

OpGen, Inc. revealed that it has entered into a strategic collaboration deal with the New York State Department of Health. The focus of...

Why Mer Telemanagement [NASDAQ: MTSL] Skyrocketed on Friday?

Shares of Mer Telemanagement Solutions Ltd skyrocketed during the trading session of Friday. The strong performance of the firm has indicated the positive...

Largo Resources Gets Approval for Listing on Nasdaq Stock Exchange

Largo Resources disclosed that it has finally obtained authorization from Nasdaq Stock Market LLC. As per the approval, the firm will now eligible to...

Shares of Hertz Global Holdings, Inc. [NYSE: HTZ] soared 142.72% after the company revealed that it has got $1.65 billion in funding. Rental & Leasing Services company disclosed that the financing will be provided by some of the creditors of the company.

The rental company has earlier lodged for Chapter 11 protection under the Federal Bankruptcy Code in May but the recent news of debtor-in-possession financing has excited the stocks of Hertz Global Holdings.

Let’s take a quick look at what is debtor-in-possesions and what does it means for investors. This financing will only available for companies who are struggling with bankruptcy.

This fiancing is helpful in reorganization and it helps the company to raise capital to continue operations while the bankruptcy process continues.

Shares of Hertz traded up 142.72% as it gained +1.47 on Friday. It has a closing price of $2.50. It had a trading volume of 1021.22 million as compared to the average volume of 10.08 million.

In the past 52-weeks of trading, this company’s stock has fluctuated between the low of $0.40 & a high of $20.85. It has moved up 525.00% from its 52-weeks low and moved down -88.01% from its 52-weeks high.

Turing our focus on its profitability, it has return on assets of -4.70%. Its return on equity is -82.70% and return on investment is 4.00%.

It has a Gross Margin of 39.70%, a Profit Margin of -14.60%, and an Operating Margin of -7.40%. Additionally, Hertz market capitalization has remained high, hitting $397.73 million at the time of writing.

The company aimed to use this DIP financing to continue its operations. It is striving to minimize the effect of the COVID-19 pandemic effect on the business.

Though it’s a positive development for the company Hertz already has a mountain of debts. Moreover, its $15 billion of debt is linked with the vehicle fleet of its total $19 billion of debt.

More articles

Latest article

Aurora Mobile [NASDAQ: JG] Inks Agreement with Wanda Film

Aurora Mobile Limited disclosed Thursday that it has inked an agreement with Wanda Film Holding Co Ltd. Since its inception, Aurora Mobile has...

Brady [NYSE: BRC] Commence Tender Offer to Buy Nordic ID Oyj

Brady Corporation has inked an agreement with Nordic ID for its acquisition. The firm has commenced the tender offering to buy all the...

Cinedigm [NASDAQ: CIDM] Achieve Record Subscription and Ad-Supported User Growth Milestones

Shares of Cinedigm Corp. skyrocketed 19.30% after the firm reported the update about the subscription. The firm has achieved the best ever achievement...

Aurora Mobile [NASDAQ: JG] Signs Partnership Agreement with Yivi

Aurora Mobile Limited revealed that it has inked a collaboration deal with Hangzhou Yivi Intelligent Technology Co., LTD. (Yivi). Yivi and Aurora both...

Total [NYSE: TOT] Join Forces with Siemens Energy to Reduce LNG Related Emissions

Total SE has joined forces with Siemens Energy to explore the solution for the reduction of CO2 emissions. The firms have inked a...

Kaixin [NASDAQ: KXIN] Signs Cooperation Agreement with Jingdong

Kaixin Auto Holdings declared Monday that it has inked a deal with Jingdong Century Trade Limited. The agreement is the collaboration agreement between...

Pintec [NASAQ: PT] Announces Acquisition of Jishengtai

Pintec Technology Holdings Limited revealed Monday that it has acquired the Shenzhen Jishengtai Technology Co. Ltd (JST). Both the firms have inked the...

Cameco [NYSE: CCJ] Plans to Restart Cigar Lake Uranium Mine

Cameco Corporation declared that it has decided to resume the cigar lake uranium mine. The firm is intending to restart production in the...