Baidu Sees Unusually High Options Volume (NASDAQ:BIDU)

Baidu, Inc. (NASDAQ:BIDU) was the target of unusually large options trading activity on Wednesday. Stock investors acquired 57,474 call options on the stock. This represents an increase of approximately 35% compared to the average daily volume of 42,590 call options.

Baidu Trading Up 4.4 %

Shares of Baidu stock opened at $93.34 on Thursday. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.18. The company’s 50-day simple moving average is $86.40 and its 200-day simple moving average is $88.57. Baidu has a 52-week low of $77.19 and a 52-week high of $116.25. The firm has a market cap of $32.73 billion, a price-to-earnings ratio of 11.42, a price-to-earnings-growth ratio of 2.03 and a beta of 0.46.

Analyst Ratings Changes

A number of research analysts recently commented on BIDU shares. Susquehanna downgraded shares of Baidu from a “positive” rating to a “neutral” rating and dropped their target price for the company from $105.00 to $85.00 in a research report on Monday, November 25th. Benchmark reaffirmed a “buy” rating and set a $130.00 price objective on shares of Baidu in a report on Friday, January 24th. Citigroup reduced their target price on Baidu from $142.00 to $141.00 and set a “buy” rating for the company in a report on Friday, November 29th. China Renaissance downgraded Baidu from a “buy” rating to a “hold” rating and set a $86.00 price target on the stock. in a research note on Monday, November 25th. Finally, StockNews.com upgraded Baidu from a “hold” rating to a “buy” rating in a research note on Friday, December 27th. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $112.08.

Institutional Trading of Baidu

Institutional investors have recently modified their holdings of the business. Primecap Management Co. CA raised its position in Baidu by 1.5% in the third quarter. Primecap Management Co. CA now owns 12,123,856 shares of the information services provider’s stock worth $1,276,521,000 after acquiring an additional 176,150 shares in the last quarter. Sanders Capital LLC increased its holdings in shares of Baidu by 0.7% in the 3rd quarter. Sanders Capital LLC now owns 2,605,728 shares of the information services provider’s stock valued at $274,357,000 after purchasing an additional 18,334 shares in the last quarter. Pictet Asset Management Holding SA lifted its stake in shares of Baidu by 9.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 2,410,307 shares of the information services provider’s stock valued at $203,213,000 after purchasing an additional 207,966 shares during the period. Appaloosa LP lifted its stake in shares of Baidu by 7.2% in the fourth quarter. Appaloosa LP now owns 1,527,909 shares of the information services provider’s stock valued at $128,818,000 after purchasing an additional 102,909 shares during the period. Finally, CoreView Capital Management Ltd boosted its holdings in Baidu by 15.6% during the third quarter. CoreView Capital Management Ltd now owns 1,236,783 shares of the information services provider’s stock worth $130,221,000 after buying an additional 166,618 shares in the last quarter.

About Baidu

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.