BidaskClub upgraded shares of Bitauto Holdings Limited (NYSE:BITA) from a buy rating to a strong-buy rating in a research note issued to investors on Thursday morning.

A number of other research firms also recently weighed in on BITA. Zacks Investment Research upgraded Bitauto Holdings Limited from a sell rating to a hold rating in a research note on Friday, September 15th. ValuEngine upgraded Bitauto Holdings Limited from a sell rating to a hold rating in a research note on Thursday, August 3rd.

Bitauto Holdings Limited (BITA) opened at 49.18 on Thursday. The firm’s market capitalization is $3.43 billion. The stock’s 50 day moving average price is $41.31 and its 200 day moving average price is $32.17. Bitauto Holdings Limited has a 52 week low of $16.56 and a 52 week high of $49.19.

Bitauto Holdings Limited (NYSE:BITA) last posted its quarterly earnings results on Tuesday, August 15th. The information services provider reported $0.16 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.05). Bitauto Holdings Limited had a negative net margin of 4.76% and a positive return on equity of 3.85%. The business had revenue of $320.20 million during the quarter, compared to analysts’ expectations of $282.86 million. During the same quarter last year, the firm earned $0.20 earnings per share. The firm’s quarterly revenue was up 52.9% compared to the same quarter last year. On average, equities analysts expect that Bitauto Holdings Limited will post $1.12 EPS for the current year.

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Institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC raised its holdings in Bitauto Holdings Limited by 9.6% during the second quarter. SG Americas Securities LLC now owns 11,409 shares of the information services provider’s stock worth $328,000 after purchasing an additional 999 shares during the last quarter. California Public Employees Retirement System raised its holdings in Bitauto Holdings Limited by 2.3% during the second quarter. California Public Employees Retirement System now owns 58,300 shares of the information services provider’s stock worth $1,676,000 after purchasing an additional 1,300 shares during the last quarter. State Street Corp raised its holdings in Bitauto Holdings Limited by 1.8% during the second quarter. State Street Corp now owns 117,280 shares of the information services provider’s stock worth $3,372,000 after purchasing an additional 2,080 shares during the last quarter. First Trust Advisors LP raised its holdings in Bitauto Holdings Limited by 3.6% during the second quarter. First Trust Advisors LP now owns 68,169 shares of the information services provider’s stock worth $1,960,000 after purchasing an additional 2,396 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in Bitauto Holdings Limited during the second quarter worth $250,000. Hedge funds and other institutional investors own 19.66% 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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