Bitauto Holdings Limited (NYSE:BITA) was upgraded by BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued on Thursday.

BITA has been the subject of a number of other research reports. Zacks Investment Research raised Bitauto Holdings Limited from a “hold” rating to a “strong-buy” rating and set a $34.00 target price for the company in a report on Thursday, May 11th. HSBC Holdings plc reissued a “buy” rating and issued a $33.00 target price (up previously from $27.00) on shares of Bitauto Holdings Limited in a report on Wednesday, May 17th. Finally, ValuEngine raised Bitauto Holdings Limited from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Bitauto Holdings Limited presently has a consensus rating of “Buy” and a consensus target price of $34.00.

Bitauto Holdings Limited (NYSE BITA) traded down 3.86% on Thursday, reaching $36.14. The company’s stock had a trading volume of 71,394 shares. The company’s 50 day moving average price is $30.62 and its 200-day moving average price is $26.46. Bitauto Holdings Limited has a 12-month low of $16.56 and a 12-month high of $38.57. The stock’s market cap is $2.78 billion.

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Several institutional investors have recently added to or reduced their stakes in BITA. Bank of Montreal Can increased its position in Bitauto Holdings Limited by 1,411.3% in the first quarter. Bank of Montreal Can now owns 106,004 shares of the information services provider’s stock worth $2,714,000 after buying an additional 98,990 shares during the period. Wellington Management Group LLP increased its position in Bitauto Holdings Limited by 1,647.1% in the first quarter. Wellington Management Group LLP now owns 278,605 shares of the information services provider’s stock worth $7,135,000 after buying an additional 262,658 shares during the period. UBS Group AG increased its position in Bitauto Holdings Limited by 6,428.0% in the first quarter. UBS Group AG now owns 410,347 shares of the information services provider’s stock worth $10,509,000 after buying an additional 404,061 shares during the period. Platinum Investment Management Ltd. purchased a new position in Bitauto Holdings Limited during the first quarter worth about $14,677,000. Finally, Penserra Capital Management LLC increased its position in Bitauto Holdings Limited by 19.4% in the first quarter. Penserra Capital Management LLC now owns 11,995 shares of the information services provider’s stock worth $307,000 after buying an additional 1,953 shares during the period. Hedge funds and other institutional investors own 18.87% of the company’s stock.

About Bitauto Holdings Limited

Bitauto Holdings Limited is a provider of Internet content and marketing services for China’s automotive industry. The Company’s bitauto.com and taoche.com Websites provide consumers with information on new and used automobile pricing, and promotional information, specifications, reviews and consumer feedback.

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