Bitauto (BITA) Trading 8.4% Higher

Bitauto Hldg Ltd (NYSE:BITA)’s share price traded up 8.4% during mid-day trading on Wednesday . The company traded as high as $19.43 and last traded at $19.10. 663,305 shares were traded during mid-day trading, a decline of 39% from the average session volume of 1,092,901 shares. The stock had previously closed at $17.62.

A number of equities analysts have issued reports on the stock. Zacks Investment Research raised shares of Bitauto from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research note on Monday. ValuEngine raised shares of Bitauto from a “strong sell” rating to a “sell” rating in a research note on Monday, October 22nd. MED assumed coverage on shares of Bitauto in a research note on Monday, October 1st. They issued a “hold” rating on the stock. JPMorgan Chase & Co. assumed coverage on shares of Bitauto in a research note on Wednesday, August 29th. They issued an “overweight” rating and a $38.00 price objective on the stock. Finally, Macquarie reduced their price objective on shares of Bitauto from $29.00 to $23.00 and set a “hold” rating on the stock in a research note on Thursday, August 23rd. Two equities research 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. The stock presently has a consensus rating of “Hold” and an average target price of $27.00.

The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of -5.58 and a beta of 3.23.

Bitauto (NYSE:BITA) last posted its earnings results on Wednesday, August 22nd. The information services provider reported $0.01 earnings per share for the quarter. The company had revenue of $402.35 million for the quarter, compared to analyst estimates of $398.80 million. Bitauto had a negative net margin of 15.08% and a negative return on equity of 8.60%. On average, equities research analysts expect that Bitauto Hldg Ltd will post 0.24 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of BITA. Ladenburg Thalmann Financial Services Inc. raised its holdings in Bitauto by 332.1% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,367 shares of the information services provider’s stock worth $113,000 after purchasing an additional 4,125 shares during the period. Exane Derivatives raised its holdings in Bitauto by 214.4% in the third quarter. Exane Derivatives now owns 6,341 shares of the information services provider’s stock worth $144,000 after purchasing an additional 4,324 shares during the period. Public Employees Retirement System of Ohio raised its holdings in Bitauto by 36.7% in the second quarter. Public Employees Retirement System of Ohio now owns 10,800 shares of the information services provider’s stock worth $257,000 after purchasing an additional 2,900 shares during the period. Jane Street Group LLC acquired a new stake in Bitauto in the second quarter worth $290,000. Finally, Trexquant Investment LP acquired a new stake in Bitauto in the second quarter worth $428,000. Institutional investors own 35.55% of the company’s stock.

Bitauto Company Profile (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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