Shorts Action: Bitauto Holdings Limited (NYSE:BITA) Has Decline in Shorts

November 25, 2016 - By Dolores Ford   ·   0 Comments

Shorts Action: Bitauto Holdings Limited (NYSE:BITA) Has Decline in Shorts

The stock of Bitauto Holdings Limited (NYSE:BITA) registered a decrease of 1.71% in short interest. BITA’s total short interest was 2.53 million shares in November as published by FINRA. Its down 1.71% from 2.57 million shares, reported previously. With 477,300 shares average volume, it will take short sellers 5 days to cover their BITA’s short positions. The short interest to Bitauto Holdings Limited’s float is 8.81%. The stock increased 2.26% or $0.51 on November 25, hitting $23.03. About 231,217 shares traded hands. Bitauto Hldg Ltd (ADR) (NYSE:BITA) has declined 18.23% since April 22, 2016 and is downtrending. It has underperformed by 23.64% the S&P500.

Bitauto Holdings Limited is a provider of Internet content and marketing services for China’s automotive industry. The company has a market cap of $1.60 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

Out of 9 analysts covering Bitauto Holdings (NYSE:BITA), 8 rate it a “Buy”, 1 “Sell”, while 0 “Hold”. This means 89% are positive. Bitauto Holdings has been the topic of 12 analyst reports since October 29, 2015 according to StockzIntelligence Inc. The firm has “Underweight” rating given on Monday, May 16 by Morgan Stanley. On Friday, July 8 the stock rating was initiated by Macquarie Research with “Outperform”. Credit Suisse upgraded the stock to “Outperform” rating in Wednesday, March 9 report. Citigroup initiated it with “Buy” rating and $44 target price in Thursday, October 29 report. The stock has “Buy” rating given by Credit Agricole on Monday, February 22. The rating was downgraded by CLSA on Tuesday, November 10 to “Underperform”. HSBC initiated Bitauto Hldg Ltd (ADR) (NYSE:BITA) on Wednesday, January 27 with “Buy” rating. JP Morgan initiated the stock with “Neutral” rating in Tuesday, February 23 report. On Tuesday, November 10 the stock rating was downgraded by Credit Agricole to “Underperform”. The stock of Bitauto Hldg Ltd (ADR) (NYSE:BITA) has “Buy” rating given on Monday, February 22 by CLSA.

BITA Company Profile

Bitauto Holdings Limited (Bitauto), incorporated on October 21, 2005, is a well-known provider of Internet content and marketing services for China’s automotive industry. 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. The Firm operates through three divisions: advertising business, EP platform business and digital marketing solutions business. The advertising business offers a range of advertising services mainly to automakers through its Websites, as well as mobile applications. The EP platform business provides Web and mobile integrated digital marketing solutions to automobile clients in China. The platform enables dealer subscribers to create their own online showrooms, list pricing and promotional information, provide dealer contact information, place advertisements and manage customer relationships to help them reach a set of purchase-minded clients and market their automobiles to clients online. The digital marketing solutions business provides automakers with digital marketing solutions, including Website creation and maintenance, online public relations, online marketing campaigns and advertising agent services.

More notable recent Bitauto Hldg Ltd (ADR) (NYSE:BITA) news were published by: Fool.com which released: “Investors Are Betting Big Against Bitauto Hldg Ltd (ADR). Are They Wrong?” on October 13, 2016, also Fool.com with their article: “Why I’m Buying Shares of Bitauto Hldg. Ltd. (ADR)” published on September 18, 2015, Marketwatch.com published: “Bitauto Holdings Ltd. ADR” on January 21, 2011. More interesting news about Bitauto Hldg Ltd (ADR) (NYSE:BITA) were released by: Investorplace.com and their article: “Bitauto Hldg Ltd (ADR) (BITA): This Chinese Stock Could Double” published on June 10, 2016 as well as Quotes.Wsj.com‘s news article titled: “DOW JONES, A NEWS CORP COMPANY” with publication date: February 11, 2011.

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By Dolores Ford


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