Baidu, Inc. (NASDAQ:BIDU) Sees Large Increase in Short Interest

Baidu, Inc. (NASDAQ:BIDU) was the recipient of a large growth in short interest in November. As of November 15th, there was short interest totalling 7,750,000 shares, a growth of 13.6% from the October 31st total of 6,820,000 shares. Based on an average daily trading volume, of 4,010,000 shares, the short-interest ratio is presently 1.9 days.

Analyst Ratings Changes

A number of analysts have commented on the stock. Dbs Bank downgraded shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Benchmark dropped their target price on Baidu from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Citigroup decreased their price target on Baidu from $142.00 to $141.00 and set a “buy” rating for the company in a research note on Friday. Bank of America dropped their price objective on Baidu from $128.00 to $117.00 and set a “buy” rating on the stock in a research note on Friday, August 23rd. Finally, Sanford C. Bernstein cut Baidu from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $130.00 to $97.00 in a research note on Friday, August 23rd. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $113.75.

Institutional Investors Weigh In On Baidu

Several hedge funds have recently made changes to their positions in the company. Guinness Asset Management LTD grew its position in Baidu by 4.4% during the 2nd quarter. Guinness Asset Management LTD now owns 2,360 shares of the information services provider’s stock worth $204,000 after purchasing an additional 100 shares in the last quarter. Grove Bank & Trust boosted its position in shares of Baidu by 21.6% in the third quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock worth $77,000 after buying an additional 130 shares during the period. Advisors Asset Management Inc. grew its holdings in shares of Baidu by 5.2% during the third quarter. Advisors Asset Management Inc. now owns 2,818 shares of the information services provider’s stock valued at $297,000 after buying an additional 140 shares in the last quarter. Blue Trust Inc. raised its position in Baidu by 9.0% during the second quarter. Blue Trust Inc. now owns 2,078 shares of the information services provider’s stock valued at $180,000 after buying an additional 171 shares during the period. Finally, Intellectus Partners LLC lifted its stake in Baidu by 1.5% in the 3rd quarter. Intellectus Partners LLC now owns 16,538 shares of the information services provider’s stock worth $1,741,000 after acquiring an additional 250 shares in the last quarter.

Baidu Price Performance

BIDU stock opened at $85.05 on Friday. Baidu has a one year low of $78.95 and a one year high of $120.25. The firm has a 50-day moving average of $93.57 and a two-hundred day moving average of $91.63. The firm has a market capitalization of $29.82 billion, a PE ratio of 10.41, a P/E/G ratio of 1.12 and a beta of 0.51. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.18.

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.