Bitauto Hldg Trading Up 7.5% Following Strong Earnings (BITA)
Shares of Bitauto Hldg (NASDAQ:BITA) were up 7.5% during mid-day trading on Monday following a stronger than expected earnings report, ARN reports. The stock traded as high as $69.04 and last traded at $67.46, with a volume of 1,299,903 shares trading hands. The stock had previously closed at $62.77.
The company reported $0.48 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.39 by $0.09. The company had revenue of $84.20 million for the quarter, compared to the consensus estimate of $79.40 million.
Separately, analysts at Zacks upgraded shares of Bitauto Hldg from an “underperform” rating to a “neutral” rating in a research note on Thursday, July 31st. They now have a $57.00 price target on the stock.
The stock’s 50-day moving average is $52.32 and its 200-day moving average is $40.92. The company has a market cap of $2.827 billion and a P/E ratio of 67.42.
Bitauto Holdings Limited (NASDAQ:BITA) is a holding company.
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