Bitauto Hldg Ltd (NYSE:BITA)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $12.81 and traded as high as $14.95. Bitauto shares last traded at $14.89, with a volume of 19,357 shares.
Several brokerages recently issued reports on BITA. Zacks Investment Research downgraded Bitauto from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th. ValuEngine upgraded Bitauto from a “strong sell” rating to a “sell” rating in a research note on Thursday, November 21st. Finally, Bank of America reduced their price objective on Bitauto from $19.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th.
The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 10.73 and a beta of 0.69. The firm has a 50-day moving average of $15.11 and a 200 day moving average of $12.90. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.26.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. grew its stake in Bitauto by 10.3% during the 2nd quarter. Invesco Ltd. now owns 6,302,696 shares of the information services provider’s stock valued at $65,989,000 after purchasing an additional 589,306 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Bitauto by 3.8% during the 2nd quarter. Vanguard Group Inc. now owns 1,016,835 shares of the information services provider’s stock valued at $10,646,000 after buying an additional 37,120 shares during the last quarter. FMR LLC acquired a new stake in shares of Bitauto during the first quarter worth approximately $13,942,000. BlackRock Inc. grew its position in shares of Bitauto by 12.5% during the second quarter. BlackRock Inc. now owns 598,800 shares of the information services provider’s stock worth $6,269,000 after buying an additional 66,420 shares in the last quarter. Finally, River & Mercantile Asset Management LLP increased its stake in shares of Bitauto by 75.5% in the second quarter. River & Mercantile Asset Management LLP now owns 554,108 shares of the information services provider’s stock worth $5,799,000 after buying an additional 238,430 shares during the last quarter. 27.42% of the stock is owned by institutional investors and hedge funds.
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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