** Shares of Hertz HTZ.O up 2.8% at $6.91 and gaining for fourth straight session on Mon with rental car firm's Q1 results due after market close

** Analysts on avg expect HTZ to post adj loss/sh of 97 cents, narrower than $1.28 loss a yr ago, on rev of $2 bln, down ~4% y/y, according to LSEG data

** Hertz, which saw weak demand in 2024, missed Wall Street estimates in Q4 amid a vehicle fleet rotation aimed at normalizing depreciation costs

** Over the course of two sessions on Apr 16 and Apr 17, HTZ shares more than doubled to $8.24 (from $3.65) after billionaire investor Bill Ackman disclosed his investment co Pershing Square recently accumulated nearly 20% stake

** Ackman previously said in a post on X he expects HTZ's efforts to increase unit rev and reduce operating cost will significantly improve profit margin over the next several years

** Last week, rival Avis Budget Group CAR.O reported wider Q1 loss of $14.35/sh, compared to $3.21/sh a yr ago, as it recorded an anticipated $390 mln fleet charge after disposing of certain vehicles in its Americas segment, saying it does not expect further charges related to its fleet rotation strategy

** Of 10 analysts covering HTZ, recommendation breakdown is 6 "hold" and 4 "sell" ratings; median PT is $3

** As of May 12, short interest in HTZ shares is ~20% of float, per latest LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))