Bitauto (NYSE:BITA) Shares Down 5.5%
Shares of Bitauto Hldg Ltd (NYSE:BITA) traded down 5.5% during trading on Friday . The stock traded as low as $11.15 and last traded at $11.16, 626,143 shares traded hands during mid-day trading. A decline of 21% from the average session volume of 792,606 shares. The stock had previously closed at $11.81.
Several brokerages have issued reports on BITA. Bank of America set a $77.00 price target on Zscaler and gave the company a “neutral” rating in a research note on Friday, May 31st. JPMorgan Chase & Co. restated an “overweight” rating on shares of in a research note on Friday, June 28th. Zacks Investment Research cut Guaranty Federal Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, April 23rd. Finally, ValuEngine lowered Zosano Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $21.17.
The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.29. The firm has a market cap of $832.86 million, a PE ratio of 7.97 and a beta of 1.00. The firm’s 50-day moving average price is $10.52.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Penserra Capital Management LLC increased its stake in Bitauto by 1.5% during the 1st quarter. Penserra Capital Management LLC now owns 66,763 shares of the information services provider’s stock worth $1,062,000 after buying an additional 965 shares during the period. Marshall Wace North America L.P. acquired a new stake in shares of Bitauto during the first quarter valued at approximately $35,000. Wedbush Securities Inc. raised its holdings in shares of Bitauto by 24.8% during the first quarter. Wedbush Securities Inc. now owns 15,100 shares of the information services provider’s stock valued at $240,000 after acquiring an additional 3,000 shares during the period. Quantamental Technologies LLC purchased a new position in Bitauto during the first quarter valued at approximately $90,000. Finally, Segantii Capital Management Ltd bought a new stake in Bitauto in the first quarter worth approximately $92,000. Hedge funds and other institutional investors own 27.87% of the company’s stock.
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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