Alibaba Group Holding Limited (NYSE:BABA) Sees Significant Drop in Short Interest

Alibaba Group Holding Limited (NYSE:BABA) was the target of a large decline in short interest in November. As of November 15th, there was short interest totalling 55,230,000 shares, a decline of 11.7% from the October 31st total of 62,560,000 shares. Approximately 2.3% of the shares of the stock are sold short. Based on an average daily volume of 19,960,000 shares, the days-to-cover ratio is presently 2.8 days.

Alibaba Group Stock Up 0.9 %

Shares of NYSE BABA traded up $0.78 during midday trading on Friday, reaching $87.37. 7,553,510 shares of the company’s stock traded hands, compared to its average volume of 15,511,165. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.16. The stock’s 50 day simple moving average is $98.45 and its 200-day simple moving average is $86.08. Alibaba Group has a one year low of $66.63 and a one year high of $117.82. The company has a market cap of $209.05 billion, a price-to-earnings ratio of 17.72, a P/E/G ratio of 0.43 and a beta of 0.35.

Alibaba Group (NYSE:BABA) last released its quarterly earnings data on Friday, November 15th. The specialty retailer reported $15.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $13.19. The firm had revenue of $236.50 billion for the quarter, compared to the consensus estimate of $239.45 billion. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The company’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the firm earned $1.82 earnings per share. On average, analysts predict that Alibaba Group will post 8.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on BABA shares. Truist Financial decreased their price target on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Morgan Stanley reiterated an “equal weight” rating and issued a $90.00 price target on shares of Alibaba Group in a report on Friday, August 23rd. Bank of America boosted their price objective on shares of Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Loop Capital reaffirmed a “buy” rating and set a $115.00 target price on shares of Alibaba Group in a research report on Thursday, August 29th. Finally, JPMorgan Chase & Co. raised their target price on shares of Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $114.07.

Institutional Investors Weigh In On Alibaba Group

Several institutional investors have recently bought and sold shares of BABA. First Command Advisory Services Inc. acquired a new stake in Alibaba Group in the second quarter valued at approximately $25,000. GPS Wealth Strategies Group LLC lifted its stake in shares of Alibaba Group by 139.3% during the second quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock worth $26,000 after buying an additional 209 shares during the period. Strategic Investment Solutions Inc. IL purchased a new position in shares of Alibaba Group during the second quarter worth $27,000. Concord Wealth Partners raised its holdings in shares of Alibaba Group by 155.0% during the third quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 155 shares during the last quarter. Finally, Highline Wealth Partners LLC purchased a new position in shares of Alibaba Group during the third quarter worth $36,000. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Company Profile

Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. The company operates through seven segments: China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, and Innovation Initiatives and Others.