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

Baidu, Inc. (NASDAQ:BIDU) was the target of a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 6,370,000 shares, an increase of 10.2% from the May 31st total of 5,780,000 shares. Based on an average daily volume of 3,290,000 shares, the short-interest ratio is currently 1.9 days.

Institutional Investors Weigh In On Baidu

A number of large investors have recently made changes to their positions in BIDU. Crossmark Global Holdings Inc. lifted its holdings in shares of Baidu by 0.3% during the fourth quarter. Crossmark Global Holdings Inc. now owns 29,375 shares of the information services provider’s stock valued at $3,498,000 after acquiring an additional 99 shares during the period. Kingsview Wealth Management LLC lifted its holdings in shares of Baidu by 5.8% during the fourth quarter. Kingsview Wealth Management LLC now owns 2,005 shares of the information services provider’s stock valued at $239,000 after acquiring an additional 110 shares during the period. Beacon Financial Group lifted its holdings in shares of Baidu by 7.2% during the fourth quarter. Beacon Financial Group now owns 1,894 shares of the information services provider’s stock valued at $226,000 after acquiring an additional 128 shares during the period. Ignite Planners LLC lifted its holdings in shares of Baidu by 3.8% during the first quarter. Ignite Planners LLC now owns 3,791 shares of the information services provider’s stock valued at $411,000 after acquiring an additional 139 shares during the period. Finally, Advisors Asset Management Inc. lifted its holdings in shares of Baidu by 8.2% during the first quarter. Advisors Asset Management Inc. now owns 2,583 shares of the information services provider’s stock valued at $272,000 after acquiring an additional 196 shares during the period.

Wall Street Analysts Forecast Growth

BIDU has been the subject of a number of research reports. Benchmark reissued a “buy” rating and issued a $180.00 price target on shares of Baidu in a research report on Friday, May 17th. Loop Capital reduced their target price on shares of Baidu from $155.00 to $130.00 and set a “buy” rating for the company in a report on Friday, June 21st. Susquehanna dropped their price target on shares of Baidu from $150.00 to $135.00 and set a “positive” rating on the stock in a research note on Friday, May 24th. Macquarie lowered shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 17th. Finally, Morgan Stanley lowered shares of Baidu from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $140.00 to $125.00 in a research report on Friday, May 17th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $156.64.

Baidu Price Performance

BIDU stock traded up $3.19 on Wednesday, hitting $90.06. 2,797,258 shares of the company’s stock traded hands, compared to its average volume of 3,321,708. Baidu has a 1-year low of $85.08 and a 1-year high of $156.98. The stock has a market cap of $31.58 billion, a price-to-earnings ratio of 12.06 and a beta of 0.49. The stock has a fifty day moving average of $99.47 and a 200-day moving average of $104.10. The company has a current ratio of 2.79, a quick ratio of 2.79 and a debt-to-equity ratio of 0.25.

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.