Bitauto Holdings Limited (NYSE:BITA)’s Trend Up, Especially After Decreased Shorts

June 14, 2017 - By Peter Erickson

 Bitauto Holdings Limited (NYSE:BITA)’s Trend Up, Especially After Decreased Shorts

The stock of Bitauto Holdings Limited (NYSE:BITA) registered a decrease of 7.97% in short interest. BITA’s total short interest was 3.10M shares in June as published by FINRA. Its down 7.97% from 3.36M 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. The firm has “Neutral” rating by JP Morgan given on Tuesday, February 23. The company was downgraded on Monday, May 16 by Morgan Stanley. Macquarie Research initiated Bitauto Hldg Ltd (ADR) (NYSE:BITA) on Friday, July 8 with “Outperform” rating. HSBC initiated the stock with “Buy” rating in Wednesday, January 27 report. Credit Agricole upgraded the shares of BITA in report on Monday, February 22 to “Buy” rating. Credit Suisse upgraded the stock to “Outperform” rating in Wednesday, March 9 report. Credit Agricole downgraded the shares of BITA in report on Tuesday, November 10 to “Underperform” rating. The rating was initiated by JP Morgan on Wednesday, August 31 with “Overweight”. The firm has “Buy” rating by CLSA given on Monday, February 22. The stock has “Underperform” rating by CLSA on Tuesday, November 10.

More notable recent Bitauto Hldg Ltd (ADR) (NYSE:BITA) news were published by: Thestreet.com which released: “Bitauto Holdings (BITA) Stock Plunges Today as Chinese Auto Sales Growth Slows” on January 12, 2015, also Benzinga.com with their article: “20 Stocks Moving In Wednesday’s Pre-Market Session” published on June 14, 2017, Fool.com published: “Investors Are Betting Big Against Bitauto Hldg Ltd (ADR). Are They Wrong?” on October 13, 2016. 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 Quotes.Wsj.com‘s news article titled: “Bitauto Holdings Ltd. ADR BITA (US: NYSE)” with publication date: February 11, 2011.

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