Bitauto (BITA) Sees Unusually-High Trading Volume

Bitauto Hldg Ltd (NYSE:BITA) shares saw strong trading volume on Tuesday . 364,500 shares changed hands during trading, a decline of 62% from the previous session’s volume of 960,543 shares.The stock last traded at $31.80 and had previously closed at $31.64.

Several equities analysts have recently weighed in on the stock. BidaskClub upgraded shares of Bitauto from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 5th. Zacks Investment Research upgraded shares of Bitauto from a “sell” rating to a “hold” rating in a research report on Friday, September 15th. ValuEngine lowered shares of Bitauto from a “hold” rating to a “sell” rating in a research report on Friday, December 15th. Citigroup assumed coverage on shares of Bitauto in a research report on Tuesday. They set a “buy” rating and a $40.00 price objective for the company. Finally, Morgan Stanley assumed coverage on shares of Bitauto in a research report on Wednesday, December 13th. They set an “overweight” rating for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $43.00.

The firm has a market cap of $2,356.20, a PE ratio of -14.87 and a beta of 3.04.

Large investors have recently bought and sold shares of the company. Advisors Preferred LLC bought a new position in shares of Bitauto during the 3rd quarter valued at about $105,000. BNP Paribas Arbitrage SA boosted its holdings in shares of Bitauto by 13,684.2% in the third quarter. BNP Paribas Arbitrage SA now owns 2,619 shares of the information services provider’s stock worth $117,000 after buying an additional 2,600 shares during the period. Clarkston Capital Partners LLC acquired a new position in shares of Bitauto in the third quarter worth about $223,000. Aperio Group LLC acquired a new position in shares of Bitauto in the third quarter worth about $296,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Bitauto in the third quarter worth about $351,000. Institutional investors own 27.82% of the company’s stock.

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Bitauto Company Profile

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.

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