Avis Budget Group Inc. (CAR) Moves Higher on Volume Spike for July 30

Equities Staff  |

Avis Budget Group Inc. (CAR) traded on unusually high volume on Jul. 30, as the stock gained 2.35% to close at $34.02. On the day, Avis Budget Group Inc. saw 2.9 million shares trade hands on 19,349 trades. Considering that the stock averages only a daily volume of 1.73 million shares a day over the last month, this represents a pretty significant bump in volume over the norm.

Generally speaking, when a stock experiences a sudden spike in trading volume, it may be seen as a bullish signal for investors. An increase in volume means more market awareness for the company, potentially setting up a more meaningful move in stock price. The added volume also provides a level of support and stability for price advances.

The stock has traded between $50.88 and $29.80 over the last 52-weeks, its 50-day SMA is now $37.45, and its 200-day SMA $42.01. Avis Budget Group Inc. has a P/B ratio of 6.08. It also has a P/E ratio of 7.4.

Avis Budget Group Inc provides automotive vehicle rental and car sharing services. It offers various rental services under the Avis, Budget, and Zipcar brands. The firm has its own network of rental locations and licenses its brands to franchisees.

Headquartered in Parsippany, NJ, Avis Budget Group Inc. has 31,000 employees and is currently under the leadership of CEO Larry De Shon.

For a complete fundamental analysis analysis of Avis Budget Group Inc., check out Equities.com’s Stock Valuation Analysis report for CAR.

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To get more information on Avis Budget Group Inc. and to follow the company’s latest updates, you can visit the company’s profile page here: CAR’s Profile. For more news on the financial markets and emerging growth companies, be sure to visit Equities.com’s Newsdesk. Also, don’t forget to sign-up for our daily email newsletter to ensure you don’t miss out on any of our best stories.

All data provided by QuoteMedia and was accurate as of 4:30PM ET.

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