What Will Happen to Bitauto Holdings Limited (NYSE:BITA) Next? The Stock Has Decline in Shorts

June 19, 2017 - By Peter Erickson

 What Will Happen to Bitauto Holdings Limited (NYSE:BITA) Next? The Stock Has Decline in Shorts

The stock of Bitauto Holdings Limited (NYSE:BITA) registered a decrease of 7.97% in short interest. BITA’s total short interest was 3.10 million 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%.

The stock decreased 1.21% or $0.33 during the last trading session, reaching $27.02. About 370 shares traded. Bitauto Hldg Ltd (ADR) (NYSE:BITA) has risen 69.99% since June 19, 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 stock of Bitauto Hldg Ltd (ADR) (NYSE:BITA) has “Buy” rating given on Monday, February 22 by CLSA. The rating was downgraded by Morgan Stanley on Monday, May 16 to “Underweight”. Citigroup initiated the stock with “Buy” rating in Thursday, October 29 report. The stock of Bitauto Hldg Ltd (ADR) (NYSE:BITA) earned “Buy” rating by Credit Agricole on Monday, February 22. The stock has “Underperform” rating by Credit Agricole on Tuesday, November 10. As per Wednesday, March 9, the company rating was upgraded by Credit Suisse. The firm has “Outperform” rating by Macquarie Research given on Friday, July 8. The firm has “Outperform” rating given on Wednesday, May 24 by CLSA. The stock has “Buy” rating by HSBC on Wednesday, January 27. JP Morgan initiated the stock with “Neutral” rating in Tuesday, February 23 report.

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 Quotes.Wsj.com with their article: “Bitauto Holdings Ltd. ADR BITA (US: NYSE)” published on February 11, 2011, Investorplace.com published: “Bitauto Hldg Ltd (ADR) (BITA): This Chinese Stock Could Double” on June 10, 2016. More interesting news about Bitauto Hldg Ltd (ADR) (NYSE:BITA) were released by: Fool.com and their article: “Investors Are Betting Big Against Bitauto Hldg Ltd (ADR). Are They Wrong?” published on October 13, 2016 as well as Marketwatch.com‘s news article titled: “27.0819” with publication date: January 21, 2011.

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