Time to Reconsider Bitauto Holdings Limited (NYSE:BITA) After More Short Sellers?

December 22, 2017 - By Kurt Siggers

 Time to Reconsider Bitauto Holdings Limited (NYSE:BITA) After More Short Sellers?

The stock of Bitauto Holdings Limited (NYSE:BITA) registered an increase of 28.58% in short interest. BITA’s total short interest was 6.34M shares in December as published by FINRA. Its up 28.58% from 4.93M shares, reported previously. With 3.18 million shares average volume, it will take short sellers 2 days to cover their BITA’s short positions. The short interest to Bitauto Holdings Limited’s float is 49.67%.

The stock decreased 0.50% or $0.16 during the last trading session, reaching $31.69. About 112,921 shares traded. Bitauto Holdings Limited (NYSE:BITA) has risen 69.99% since December 22, 2016 and is uptrending. It has outperformed by 53.29% the S&P500.

Bitauto Holdings Limited provides Internet content and marketing, and transaction services for the automotive industry in the PeopleÂ’s Republic of China. The company has market cap of $2.19 billion. The firm operates in three divisions: Advertising and Subscription Business, Transaction Services Business, and Digital Marketing Solutions Business. It currently has negative earnings. The Advertising and Subscription Business segment provides advertising services, including new automobile pricing and promotional information, specifications, reviews, and consumer feedback to automakers through its bitauto.com and taoche.com Websites, as well as mobile applications.

Bitauto Holdings Limited (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 14 analyst reports since October 29, 2015 according to SRatingsIntel. The company was upgraded on Friday, September 1 by CLSA. CLSA upgraded the shares of BITA in report on Monday, February 22 to “Buy” rating. The rating was initiated by JP Morgan with “Neutral” on Tuesday, February 23. HSBC initiated the shares of BITA in report on Wednesday, January 27 with “Buy” rating. The firm earned “Outperform” rating on Friday, July 8 by Macquarie Research. On Tuesday, November 10 the stock rating was downgraded by Credit Agricole to “Underperform”. CLSA downgraded the stock to “Underperform” rating in Tuesday, November 10 report. The firm earned “Buy” rating on Monday, February 22 by Credit Agricole. The stock has “Underweight” rating by Morgan Stanley on Monday, May 16. The stock of Bitauto Holdings Limited (NYSE:BITA) earned “Outperform” rating by CLSA on Wednesday, May 24.

More notable recent Bitauto Holdings Limited (NYSE:BITA) news were published by: Benzinga.com which released: “Earnings Scheduled For November 20, 2017” on November 20, 2017, also Fool.com with their article: “Investors Are Betting Big Against Bitauto Hldg Ltd (ADR). Are They Wrong?” published on October 13, 2016, Investorplace.com published: “Bitauto Hldg Ltd (ADR) (BITA): This Chinese Stock Could Double” on June 10, 2016. More interesting news about Bitauto Holdings Limited (NYSE:BITA) were released by: Thestreet.com and their article: “Bitauto Holdings (BITA) Stock Plunges Today as Chinese Auto Sales Growth Slows” published on January 12, 2015 as well as Marketwatch.com‘s news article titled: “Bitauto Holdings Ltd. ADR” with publication date: January 21, 2011.

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