Bitauto (BITA) Trading 7.8% Higher

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.

Bitauto (NYSE:BITA) last posted its quarterly earnings results on Wednesday, August 22nd. The information services provider reported $0.01 earnings per share (EPS) for the quarter. Bitauto had a negative return on equity of 8.60% and a negative net margin of 15.08%. The business had revenue of $402.35 million for the quarter, compared to analyst estimates of $398.80 million. Equities analysts forecast that Bitauto Hldg Ltd will post 0.83 EPS for the current year.

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.

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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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