Bitauto (BITA) Shares Down 6.7%

Bitauto Hldg Ltd (NYSE:BITA) fell 6.7% during trading on Thursday . The stock traded as low as $35.57 and last traded at $35.67. 2,427,600 shares were traded during trading, a decline of 3% from the average session volume of 2,506,671 shares. The stock had previously closed at $38.23.

Several research firms recently commented on BITA. Zacks Investment Research upgraded shares of Bitauto from a “sell” rating to a “buy” rating and set a $56.00 target price on the stock in a research report on Tuesday, October 24th. BidaskClub downgraded shares of Bitauto from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 28th. Citigroup began coverage on shares of Bitauto in a research report on Tuesday, January 2nd. They set a “buy” rating and a $40.00 target price on the stock. ValuEngine downgraded shares of Bitauto from a “hold” rating to a “sell” rating in a research report on Friday, December 15th. Finally, Morgan Stanley began coverage on shares of Bitauto in a research report on Wednesday, December 13th. They set an “overweight” rating on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $43.00.

A number of large investors have recently bought and sold shares of BITA. Advisors Preferred LLC acquired a new stake in Bitauto during the 3rd quarter worth approximately $105,000. BNP Paribas Arbitrage SA lifted its position in shares of Bitauto by 13,684.2% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 2,619 shares of the information services provider’s stock worth $117,000 after purchasing an additional 2,600 shares during the period. Clarkston Capital Partners LLC acquired a new position in shares of Bitauto in the 3rd quarter worth approximately $223,000. Aperio Group LLC acquired a new position in shares of Bitauto in the 3rd quarter worth approximately $296,000. Finally, SG Americas Securities LLC lifted its position in shares of Bitauto by 9.6% in the 2nd 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 period. Institutional investors and hedge funds own 27.82% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally posted by Community Financial News and is the property of of Community Financial News. If you are accessing this piece of content on another domain, it was illegally copied and republished in violation of US and international trademark and copyright legislation. The correct version of this piece of content can be read at https://www.com-unik.info/2018/01/13/bitauto-bita-shares-down-6-7.html.

About Bitauto

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.

What are top analysts saying about Bitauto? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Bitauto and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit