After Reaching Milestone, Is Bitauto Holdings Limited (NYSE:BITA)’s Short Interest Revealing Something?

June 14, 2017 - By Migdalia James

 After Reaching Milestone, Is Bitauto Holdings Limited (NYSE:BITA)’s Short Interest Revealing Something?

The stock of Bitauto Holdings Limited (NYSE:BITA) registered a decrease of 7.97% in short interest. BITA’s total short interest was 3.10 million shares in June as published by FINRA. Its down 7.97% from 3.36 million shares, reported previously. With 955,300 shares average volume, it will take short sellers 3 days to cover their BITA’s short positions. The short interest to Bitauto Holdings Limited’s float is 24.28%.

About 1 shares traded. Bitauto Hldg Ltd (ADR) (NYSE:BITA) has risen 69.99% since June 14, 2016 and is uptrending. It has outperformed by 53.29% the S&P500.

Bitauto Holdings Limited is a provider of Internet content and marketing services for China’s automotive industry. The company has market cap of $1.89 billion. 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. It currently has negative earnings. The Firm operates through three divisions: advertising business, EP platform business and digital marketing solutions business.

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

Among 9 analysts covering Bitauto Holdings (NYSE:BITA), 8 have Buy rating, 1 Sell and 0 Hold. Therefore 89% are positive. Bitauto Holdings had 13 analyst reports since October 29, 2015 according to SRatingsIntel. Credit Agricole upgraded the shares of BITA in report on Monday, February 22 to “Buy” rating. The stock has “Buy” rating by Citigroup on Thursday, October 29. The rating was initiated by JP Morgan on Wednesday, August 31 with “Overweight”. The rating was upgraded by CLSA to “Buy” on Monday, February 22. Morgan Stanley downgraded it to “Underweight” rating and $20 target in Monday, May 16 report. The company was downgraded on Tuesday, November 10 by Credit Agricole. Macquarie Research initiated Bitauto Hldg Ltd (ADR) (NYSE:BITA) on Friday, July 8 with “Outperform” rating. As per Tuesday, November 10, the company rating was downgraded by CLSA. The company was initiated on Wednesday, January 27 by HSBC. The firm has “Neutral” rating by JP Morgan given on Tuesday, February 23.

More notable recent Bitauto Hldg Ltd (ADR) (NYSE:BITA) news were published by: Fool.com which released: “Investors Are Betting Big Against Bitauto Hldg Ltd (ADR). Are They Wrong?” on October 13, 2016, also Quotes.Wsj.com with their article: “Bitauto Holdings Ltd. ADR BITA (US: NYSE)” published on February 11, 2011, Benzinga.com published: “20 Stocks Moving In Wednesday’s Pre-Market Session” on June 14, 2017. More interesting news about Bitauto Hldg Ltd (ADR) (NYSE:BITA) were released by: Fool.com and their article: “Why I’m Buying Shares of Bitauto Hldg. Ltd. (ADR)” published on September 18, 2015 as well as Marketwatch.com‘s news article titled: “27.26” with publication date: January 21, 2011.

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