Bitauto (BITA) Shares Down 6.4%
Shares of Bitauto Hldg Ltd (NYSE:BITA) were down 6.4% on Thursday . The company traded as low as $15.99 and last traded at $16.06. Approximately 1,545,862 shares traded hands during trading, an increase of 91% from the average daily volume of 809,092 shares. The stock had previously closed at $17.16.
A number of equities analysts recently issued reports on BITA shares. Zacks Investment Research downgraded Bitauto from a “hold” rating to a “sell” rating in a report on Wednesday, February 6th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $19.00 price target on shares of Bitauto in a report on Thursday, November 29th. Finally, ValuEngine downgraded Bitauto from a “hold” rating to a “sell” rating in a report on Thursday, January 3rd. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. Bitauto currently has an average rating of “Hold” and an average target price of $25.20.
The company has a quick ratio of 1.15, a current ratio of 1.19 and a debt-to-equity ratio of 0.42. The firm has a market cap of $1.17 billion, a PE ratio of 11.04 and a beta of 1.19.
Hedge funds have recently bought and sold shares of the company. Westpac Banking Corp acquired a new stake in shares of Bitauto in the fourth quarter valued at approximately $1,517,000. SG Americas Securities LLC acquired a new stake in shares of Bitauto in the fourth quarter valued at approximately $799,000. Hsbc Holdings PLC boosted its holdings in shares of Bitauto by 10.5% in the third quarter. Hsbc Holdings PLC now owns 165,492 shares of the information services provider’s stock valued at $3,806,000 after acquiring an additional 15,688 shares during the period. Morgan Stanley boosted its holdings in shares of Bitauto by 88.5% in the third quarter. Morgan Stanley now owns 104,185 shares of the information services provider’s stock valued at $2,396,000 after acquiring an additional 48,905 shares during the period. Finally, Exane Derivatives boosted its holdings in shares of Bitauto by 71.0% in the fourth quarter. Exane Derivatives now owns 10,841 shares of the information services provider’s stock valued at $268,000 after acquiring an additional 4,500 shares during the period. 36.19% of the stock is owned by institutional investors and hedge funds.
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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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