The flood of interest took shares on loan to an all time high of 35 percent.
“The high demand to borrow Hertz demonstrates that short sellers are still wary of the ongoing weakness in the rental market and the firm’s exposure to cratering secondhand car values,” explained IHS Markit analyst Simon Colvin in a research note on short regional interest ahead of earnings.
Colvin also noted that more than a quarter of analysts that cover Hertz have a sell or underweight rating despite the rental company’s shares rallying in recent weeks.
Hertz just beat LGI homes, a Texas-based housing developer, and Axon Enterprises, an aerospace manufacturer, to the top spot, according to IHS Markit data.
LGI Homes has currently has 31.5 percent of shares out on loan, while Axon hit 30.5 percent, as of last week.