Bitauto Hldg Sees Strong Trading Volume Following Strong Earnings (BITA)
Shares of Bitauto Hldg (NASDAQ:BITA) saw unusually-high trading volume on Tuesday following a stronger than expected earnings report, ARN reports. Approximately 1,388,568 shares were traded during trading, an increase of 42% from the previous session’s volume of 977,039 shares.The stock last traded at $72.55 and had previously closed at $68.99.
The company reported $0.48 earnings per share (EPS) for the quarter, beating the 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.
A number of research firms have recently commented on BITA. Analysts at Oppenheimer raised their price target on shares of Bitauto Hldg from $45.00 to $78.00 in a research note on Tuesday. They now have an “outperform” rating on the stock. 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 has a 50-day moving average of $52.98 and a 200-day moving average of $41.21. The company has a market cap of $3.031 billion and a P/E ratio of 74.10.
Bitauto Holdings Limited (NASDAQ:BITA) is a holding company.
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