3 Technology Stocks On The Rise

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

All three major indices are trading down today with the Dow Jones Industrial Average ( ^DJI) trading down 7 points (0.0%) at 16,563 as of Tuesday, Aug. 12, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,349 issues advancing vs. 1,605 declining with 179 unchanged.

The Technology sector currently sits down 0.6% versus the S&P 500, which is down 0.1%. Top gainers within the sector include America Movil SAB de CV ( AMOV), up 0.8%, and Telekomunikasi Indonesia (Persero) Tbk ( TLK), up 0.7%. On the negative front, top decliners within the sector include Nuance Communications ( NUAN), down 10.6%, Rackspace Hosting ( RAX), down 7.2%, SK Telecom ( SKM), down 3.1%, NetEase ( NTES), down 1.8% and ASML ( ASML), down 1.4%.

TheStreet would like to highlight 3 stocks pushing the sector higher today:

3. Bitauto Holdings ( BITA) is one of the companies pushing the Technology sector higher today. As of noon trading, Bitauto Holdings is up $3.69 (5.3%) to $72.68 on heavy volume. Thus far, 1.4 million shares of Bitauto Holdings exchanged hands as compared to its average daily volume of 925,300 shares. The stock has ranged in price between $68.04-$73.05 after having opened the day at $68.70 as compared to the previous trading day's close of $68.99.

Bitauto Holdings Limited provides Internet content and marketing services for the automotive industry primarily in the People's Republic of China. Bitauto Holdings has a market cap of $2.8 billion and is part of the internet industry. Shares are up 115.9% year-to-date as of the close of trading on Monday. Currently there is 1 analyst who rates Bitauto Holdings a buy, no analysts rate it a sell, and none rate it a hold.

TheStreet Ratings rates Bitauto Holdings as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, impressive record of earnings per share growth and compelling growth in net income. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. Get the full Bitauto Holdings Ratings Report now.

3x UPSIDE POTENTIAL: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

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