Today’s Price Action: Bitauto Hldg Ltd (ADR) Can’t Burn Your Short Portfolio. Has Another Weak Session

Today's Price Action: Bitauto Hldg Ltd (ADR) Can't Burn Your Short Portfolio. Has Another Weak Session

The stock of Bitauto Hldg Ltd (ADR) (NYSE:BITA) is a huge mover today! The stock decreased 3.61% or $1.09 during the last trading session, hitting $29.08. About 740,032 shares traded hands or 23.05% up from the average. Bitauto Hldg Ltd (ADR) (NYSE:BITA) has risen 40.55% since February 29, 2016 and is uptrending. It has outperformed by 30.13% the S&P500.
The move comes after 5 months negative chart setup for the $1.69B company. It was reported on Oct, 1 by Barchart.com. We have $27.63 PT which if reached, will make NYSE:BITA worth $84.50M less.

Analysts await Bitauto Hldg Ltd (ADR) (NYSE:BITA) to report earnings on November, 14.

Bitauto Hldg Ltd (ADR) (NYSE:BITA) Ratings Coverage

Out of 9 analysts covering Bitauto Holdings (NYSE:BITA), 8 rate it a “Buy”, 1 “Sell”, while 0 “Hold”. This means 89% are positive. Bitauto Holdings has been the topic of 12 analyst reports since October 29, 2015 according to StockzIntelligence Inc. On Tuesday, November 10 the stock rating was downgraded by Credit Agricole to “Underperform”. As per Monday, May 16, the company rating was downgraded by Morgan Stanley. The firm has “Neutral” rating by JP Morgan given on Tuesday, February 23. The rating was initiated by Citigroup on Thursday, October 29 with “Buy”. The stock has “Buy” rating given by Credit Agricole on Monday, February 22. JP Morgan initiated Bitauto Hldg Ltd (ADR) (NYSE:BITA) on Wednesday, August 31 with “Overweight” rating. Credit Suisse upgraded the stock to “Outperform” rating in Wednesday, March 9 report. CLSA upgraded the shares of BITA in a report on Monday, February 22 to “Buy” rating. The stock of Bitauto Hldg Ltd (ADR) (NYSE:BITA) has “Buy” rating given on Wednesday, January 27 by HSBC. As per Tuesday, November 10, the company rating was downgraded by CLSA.

According to Zacks Investment Research, “Bitauto Holdings Limited is engaged in providing internet content and marketing services for automotive industry in China. Its bitauto.com and ucar.cn websites provide consumers new and used automobile pricing information, specifications, reviews and consumer feedback. The Company operates in three segments- bitauto.com business, ucar.cn business and digital marketing solutions business. Bitauto.com business provides subscription services to new automobile dealers and advertising services to dealers and automakers on bitauto.com website. Bitauto’s ucar.cn business provides listing and advertising services to used automobile dealers on ucar.cn website. The Company’s digital marketing solutions business provides automakers with digital marketing solutions, including website creation and maintenance, online public relations, online marketing campaigns and advertising agent services. Bitauto Holdings Limited is headquartered in Beijing, the People’s Republic of China.”

More notable recent Bitauto Hldg Ltd (ADR) (NYSE:BITA) news were published by: Fool.com which released: “Why I’m Buying Shares of Bitauto Hldg. Ltd. (ADR)” on September 18, 2015, also Marketwatch.com with their article: “Bitauto Holdings Ltd. ADR” published on January 21, 2011, Quotes.Wsj.com published: “DOW JONES, A NEWS CORP COMPANY” on February 11, 2011. More interesting news about Bitauto Hldg Ltd (ADR) (NYSE:BITA) were released by: Investorplace.com and their article: “Bitauto Hldg Ltd (ADR) (BITA): This Chinese Stock Could Double” published on June 10, 2016 as well as Benzinga.com‘s news article titled: “Mid-Afternoon Market Update: Dow Rises Over 100 Points; SYNNEX Shares Climb On …” with publication date: September 27, 2016.

BITA Company Profile

Bitauto Holdings Limited (Bitauto), incorporated on October 21, 2005, is a well-known provider of Internet content and marketing services for China’s automotive industry. The Company’s bitauto.com and taoche.com Websites provide clients with information on new and used automobile pricing, and promotional information, specifications, reviews and consumer feedback. The Firm operates through three divisions: advertising business, EP platform business and digital marketing solutions business. The advertising business offers a range of advertising services mainly to automakers through its Websites, as well as mobile applications. The EP platform business provides Web and mobile integrated digital marketing solutions to automobile clients in China. The platform enables dealer subscribers to create their own online showrooms, list pricing and promotional information, provide dealer contact information, place advertisements and manage customer relationships to help them reach a set of purchase-minded clients and market their automobiles to clients online. The digital marketing solutions business provides automakers with digital marketing solutions, including Website creation and maintenance, online public relations, online marketing campaigns and advertising agent services.

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