Short Interest in Baidu, Inc. (NASDAQ:BIDU) Grows By 13.9%

Baidu, Inc. (NASDAQ:BIDU) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 8,700,000 shares, a growth of 13.9% from the August 15th total of 7,640,000 shares. Based on an average daily volume of 3,320,000 shares, the short-interest ratio is presently 2.6 days.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on BIDU shares. Susquehanna lowered their price objective on shares of Baidu from $135.00 to $105.00 and set a “positive” rating for the company in a research report on Thursday, September 5th. StockNews.com lowered Baidu from a “buy” rating to a “hold” rating in a research report on Tuesday, July 16th. Jefferies Financial Group reduced their price target on shares of Baidu from $174.00 to $139.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Citigroup dropped their price objective on shares of Baidu from $170.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Finally, Benchmark reduced their target price on shares of Baidu from $180.00 to $135.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Baidu has an average rating of “Moderate Buy” and an average price target of $135.13.

Baidu Price Performance

Shares of BIDU traded down $0.42 during mid-day trading on Friday, hitting $83.65. The company’s stock had a trading volume of 1,983,034 shares, compared to its average volume of 3,358,161. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.32 and a quick ratio of 2.32. The stock has a market capitalization of $29.33 billion, a price-to-earnings ratio of 11.20 and a beta of 0.48. Baidu has a fifty-two week low of $79.68 and a fifty-two week high of $139.32. The firm has a 50-day moving average price of $87.35 and a 200 day moving average price of $95.74.

Institutional Investors Weigh In On Baidu

Several large investors have recently modified their holdings of the stock. Nordea Investment Management AB lifted its stake in Baidu by 14.5% during the first quarter. Nordea Investment Management AB now owns 398,387 shares of the information services provider’s stock valued at $42,125,000 after buying an additional 50,599 shares in the last quarter. Trexquant Investment LP acquired a new position in shares of Baidu during the 4th quarter worth $1,476,000. SRN Advisors LLC raised its holdings in shares of Baidu by 111.5% during the 1st quarter. SRN Advisors LLC now owns 15,694 shares of the information services provider’s stock valued at $1,652,000 after purchasing an additional 8,272 shares in the last quarter. Perpetual Ltd boosted its holdings in Baidu by 45.4% in the first quarter. Perpetual Ltd now owns 147,165 shares of the information services provider’s stock worth $15,451,000 after purchasing an additional 45,975 shares in the last quarter. Finally, SPX Gestao de Recursos Ltda acquired a new position in Baidu during the fourth quarter worth $11,028,000.

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.