Baidu, Inc. (NASDAQ:BIDU) Short Interest Update

Baidu, Inc. (NASDAQ:BIDU) was the recipient of a significant increase in short interest during the month of November. As of November 30th, there was short interest totalling 8,700,000 shares, an increase of 12.3% from the November 15th total of 7,750,000 shares. Based on an average trading volume of 4,200,000 shares, the days-to-cover ratio is presently 2.1 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group dropped their target price on shares of Baidu from $174.00 to $139.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Citigroup cut their price objective on Baidu from $142.00 to $141.00 and set a “buy” rating for the company in a research report on Friday, November 29th. Barclays lowered Baidu from an “overweight” rating to an “equal weight” rating in a report on Friday, November 22nd. Susquehanna cut Baidu from a “positive” rating to a “neutral” rating and dropped their price target for the company from $105.00 to $85.00 in a research note on Monday, November 25th. Finally, Dbs Bank downgraded shares of Baidu from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 3rd. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $113.75.

Baidu Price Performance

Baidu stock traded up $0.50 during mid-day trading on Friday, reaching $90.82. 2,420,958 shares of the company were exchanged, compared to its average volume of 3,601,490. The firm has a market cap of $31.85 billion, a PE ratio of 11.12, a PEG ratio of 1.19 and a beta of 0.46. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.19 and a quick ratio of 2.19. The company has a fifty day simple moving average of $90.51 and a 200-day simple moving average of $90.51. Baidu has a 12 month low of $78.95 and a 12 month high of $120.25.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BIDU. Swedbank AB raised its position in Baidu by 4.8% during the second quarter. Swedbank AB now owns 43,327 shares of the information services provider’s stock valued at $3,747,000 after purchasing an additional 2,000 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Baidu by 9.0% during the 2nd quarter. Blue Trust Inc. now owns 2,078 shares of the information services provider’s stock worth $180,000 after buying an additional 171 shares during the last quarter. Raymond James & Associates grew its position in Baidu by 31.4% in the second quarter. Raymond James & Associates now owns 14,368 shares of the information services provider’s stock valued at $1,243,000 after acquiring an additional 3,432 shares during the last quarter. Summit Global Investments acquired a new position in Baidu during the second quarter worth about $1,189,000. Finally, Bank Hapoalim BM lifted its holdings in shares of Baidu by 70.0% in the second quarter. Bank Hapoalim BM now owns 24,783 shares of the information services provider’s stock worth $2,143,000 after acquiring an additional 10,208 shares during the last quarter.

Baidu Company Profile

Baidu, Inc engages in the provision of internet search services in China. It operates through two segments: Baidu Core and iQIYI. The company offers Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Baidu Health that helps users to find the doctor and hospital for healthcare needs; and Haokan, a short video app.