Bitauto Hldg Ltd (NYSE:BITA)’s share price traded up 7.8% during trading on Wednesday . The stock traded as high as $18.85 and last traded at $18.80. 1,009,612 shares changed hands during trading, a decline of 6% from the average session volume of 1,075,252 shares. The stock had previously closed at $17.44.
Several equities analysts have recently commented on the company. Zacks Investment Research upgraded Bitauto from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research report on Monday, October 29th. ValuEngine lowered Bitauto from a “hold” rating to a “sell” rating in a research report on Tuesday, September 4th. Macquarie reduced their price objective on Bitauto from $29.00 to $23.00 and set a “hold” rating on the stock in a research report on Thursday, August 23rd. JPMorgan Chase & Co. initiated coverage on Bitauto in a research report on Wednesday, August 29th. They set an “overweight” rating and a $38.00 price target on the stock. Finally, Citigroup lowered Bitauto from a “buy” rating to a “hold” rating and set a $25.00 price target on the stock. in a research report on Wednesday, August 15th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. Bitauto presently has a consensus rating of “Hold” and a consensus target price of $27.00.
The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $1.35 billion, a PE ratio of -5.40 and a beta of 2.85.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Exane Derivatives grew its position in Bitauto by 214.4% during the 3rd quarter. Exane Derivatives now owns 6,341 shares of the information services provider’s stock worth $144,000 after acquiring an additional 4,324 shares during the last quarter. Thompson Siegel & Walmsley LLC bought a new position in Bitauto during the 3rd quarter worth approximately $184,000. Public Employees Retirement System of Ohio grew its position in Bitauto by 36.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 10,800 shares of the information services provider’s stock worth $257,000 after acquiring an additional 2,900 shares during the last quarter. Jane Street Group LLC bought a new position in Bitauto during the 2nd quarter worth approximately $290,000. Finally, Trexquant Investment LP bought a new position in Bitauto during the 2nd quarter worth approximately $428,000. Institutional investors and hedge funds own 36.96% of the company’s stock.
About Bitauto (NYSE:BITA)
Bitauto Holdings Limited, through its subsidiaries, provides Internet content and marketing services, and transaction services for the automobile industry in the People's Republic of China. It operates in three segments: Advertising and Subscription Business, Transaction Services Business, and Digital Marketing Solutions Business.
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