Bitauto (NYSE:BITA) Stock Crosses Above Two Hundred Day Moving Average of $12.81

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.

Bitauto (NYSE:BITA) last issued its quarterly earnings data on Tuesday, November 26th. The information services provider reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.32). Bitauto had a negative net margin of 6.16% and a positive return on equity of 2.60%. The firm had revenue of $355.50 million during the quarter, compared to analyst estimates of $375.88 million. During the same period last year, the business earned $0.53 EPS. The firm’s revenue was down 6.7% compared to the same quarter last year. As a group, research analysts forecast that Bitauto Hldg Ltd will post 1.02 EPS for the current year.

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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