Bitauto (NYSE:BITA) had its price target cut by equities researchers at JPMorgan Chase & Co. from $25.00 to $20.00 in a research note issued on Friday, June 28th, BenzingaRatingsTable reports. The firm presently has an “overweight” rating on the information services provider’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 79.69% from the company’s current price.
Other equities research analysts also recently issued research reports about the company. Bank of America set a $77.00 price target on Zscaler and gave the stock a “neutral” rating in a research report on Friday, May 31st. ValuEngine downgraded Zosano Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Finally, Zacks Investment Research downgraded Guaranty Federal Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. Bitauto presently has a consensus rating of “Hold” and a consensus target price of $21.17.
NYSE BITA remained flat at $$11.13 during trading on Friday. The company’s stock had a trading volume of 359,240 shares, compared to its average volume of 678,652. The business has a fifty day moving average price of $10.69. The stock has a market cap of $809.59 million, a price-to-earnings ratio of 7.95 and a beta of 1.00. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 1.18. Bitauto has a 1 year low of $9.46 and a 1 year high of $25.69.
Institutional investors and hedge funds have recently made changes to their positions in the company. Marshall Wace North America L.P. bought a new position in shares of Bitauto in the 1st quarter valued at $35,000. Quantamental Technologies LLC bought a new position in Bitauto during the 1st quarter worth $90,000. Segantii Capital Management Ltd bought a new position in Bitauto during the 1st quarter worth $92,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Bitauto during the 1st quarter worth $128,000. Finally, Wedbush Securities Inc. raised its position in Bitauto by 24.8% during the 1st quarter. Wedbush Securities Inc. now owns 15,100 shares of the information services provider’s stock worth $240,000 after purchasing an additional 3,000 shares during the last quarter. Institutional investors own 27.87% of the company’s stock.
Bitauto Company Profile
Bitauto Holdings Limited, through its subsidiaries, provides Internet content and marketing services, and transaction services for the automobile industry in the People's Republic of China. It operates in three segments: Advertising and Subscription Business, Transaction Services Business, and Digital Marketing Solutions Business.
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