Bitauto Hldg Ltd (ADR) (BITA) was Downgraded by Morgan Stanley to ” Underweight”. Earlier the firm had a rating of “Equal-Weight ” on the company shares. Morgan Stanley advised their investors in a research report released on May 16, 2016.
Many Wall Street Analysts have commented on Bitauto Hldg Ltd (ADR). Bitauto Hldg Ltd (ADR) was Upgraded by Credit Suisse to ” Outperform” on Mar 9, 2016. Bitauto Hldg Ltd (ADR) was Upgraded by Credit Agricole to ” Buy” on Feb 22, 2016.
On the company’s financial health, Bitauto Hldg Ltd (ADR) reported $0.25 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Mar 8, 2016. Analyst had a consensus of $0.19. The company had revenue of $191.30 million for the quarter, compared to analysts expectations of $189.71 million. The company’s revenue was up 21.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 EPS.
Bitauto Hldg Ltd (ADR) closed down -3.12 points or -12.70% at $21.44 with 16,82,399 shares getting traded on Friday. Post opening the session at $24.6, the shares hit an intraday low of $20.45 and an intraday high of $24.705 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
Bitauto Holdings Limited (Bitauto) is a provider of Internet content and marketing services for China’s automotive industry. The Company’s bitauto.com and taoche.com Websites provide consumers with information on new and used automobile pricing and promotional information specifications reviews and consumer feedback. Bitauto operates through three segments: the advertising business the EP platform business and its digital marketing solutions business. The bitauto.com advertising business offers automakers and dealers a range of advertising services through its bitauto.com Website and mobile applications. The EP platform business provides Web-based and mobile-based integrated digital marketing solutions to automobile customers in China. The digital marketing solutions business provides automakers with various digital marketing solutions. The Company’s brand names include bitauto.com and taoche.com.