Short Interest in Localiza Rent a Car S.A. (OTCMKTS:LZRFY) Drops By 54.0%

Localiza Rent a Car S.A. (OTCMKTS:LZRFY) was the recipient of a large decline in short interest in June. As of June 30th, there was short interest totaling 15,034 shares, a decline of 54.0% from the June 15th total of 32,688 shares. Based on an average trading volume of 64,639 shares, the days-to-cover ratio is currently 0.2 days.

Localiza Rent a Car Stock Down 1.7%

LZRFY stock traded down $0.14 on Tuesday, hitting $7.86. 41,070 shares of the company’s stock were exchanged, compared to its average volume of 40,278. The firm has a 50 day moving average price of $8.29 and a two-hundred day moving average price of $8.98. Localiza Rent a Car has a 12-month low of $5.98 and a 12-month high of $11.76.

Localiza Rent a Car (OTCMKTS:LZRFY) last released its quarterly earnings results on Thursday, May 21st. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. The business had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.37 billion.

Analysts Set New Price Targets

Separately, Zacks Research upgraded shares of Localiza Rent a Car from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 25th. One analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, Localiza Rent a Car currently has an average rating of “Strong Buy”.

About Localiza Rent a Car

Localiza Rent a Car (OTCMKTS:LZRFY) is a leading mobility solutions provider headquartered in Belo Horizonte, Brazil. Founded in 1973, the company has built a strong reputation in the car rental industry, offering a broad range of services to both leisure and corporate customers. Over the decades, Localiza has expanded its footprint to become one of Latin America’s largest car rental and fleet management operators.

The company’s core activities include short- and long-term vehicle rentals, fleet management services and the sale of used vehicles.