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Bitauto (BITA) Catches Eye: Stock Jumps 8.7%

Zacks Equity Research

Bitauto Holdings Limited BITA was a big mover last session, as the company saw its shares rise nearly 9% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $10.67 to $13.75 in the past one-month time frame.

The move came in after the company received a buyout proposal from Tencent Holdings Ltd and Hammer Capital to acquire all of the outstanding ordinary shares for $16 in cash.

The company has seen one negative estimate revision in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few weeks, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.

Bitauto currently has a Zacks Rank #5 (Strong Sell) while its Earnings ESP is 0.00%.

Bitauto Holdings Limited Price

Bitauto Holdings Limited Price

Bitauto Holdings Limited price | Bitauto Holdings Limited Quote

Investors interested in the Internet - Delivery Services industry may consider Vipshop Holdings Limited VIPS, which has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Is BITA going up? Or down? Predict to see what others think: Up or Down

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