What Next for Bitauto Holdings Limited (NYSE:BITA) Stock After Decrease in Shorted Shares?

June 19, 2017 - By reb123z

 What Next for Bitauto Holdings Limited (NYSE:BITA) Stock After Decrease in Shorted Shares?

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%.

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) earned “Overweight” rating by JP Morgan on Wednesday, August 31. The firm has “Underperform” rating by CLSA given on Tuesday, November 10. The firm earned “Buy” rating on Wednesday, January 27 by HSBC. Credit Agricole downgraded the stock to “Underperform” rating in Tuesday, November 10 report. The stock has “Buy” rating by CLSA on Monday, February 22. The firm earned “Neutral” rating on Tuesday, February 23 by JP Morgan. The company was initiated on Friday, July 8 by Macquarie Research. The stock has “Underweight” rating by Morgan Stanley on Monday, May 16. As per Thursday, October 29, the company rating was initiated by Citigroup. The firm has “Buy” rating by Credit Agricole given on Monday, February 22.

More notable recent Bitauto Hldg Ltd (ADR) (NYSE:BITA) news were published by: Marketwatch.com which released: “27.0819” on January 21, 2011, also Investorplace.com with their article: “Bitauto Hldg Ltd (ADR) (BITA): This Chinese Stock Could Double” published on June 10, 2016, Quotes.Wsj.com published: “Bitauto Holdings Ltd. ADR BITA (US: NYSE)” on February 11, 2011. 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 Thestreet.com‘s news article titled: “Bitauto Holdings (BITA) Stock Plunges Today as Chinese Auto Sales Growth Slows” with publication date: January 12, 2015.

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