Baidu, Inc. (NASDAQ:BIDU) Short Interest Down 19.7% in September

Baidu, Inc. (NASDAQ:BIDU) was the target of a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 7,010,000 shares, a drop of 19.7% from the September 15th total of 8,730,000 shares. Based on an average daily volume of 4,140,000 shares, the short-interest ratio is presently 1.7 days.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Jefferies Financial Group dropped their price objective on Baidu from $174.00 to $139.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Loop Capital decreased their price objective on shares of Baidu from $120.00 to $115.00 and set a “buy” rating for the company in a report on Monday, August 26th. Barclays lowered their price target on Baidu from $125.00 to $115.00 and set an “overweight” rating on the stock in a report on Friday, August 23rd. Benchmark cut their price objective on Baidu from $180.00 to $135.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Finally, Bank of America dropped their target price on Baidu from $128.00 to $117.00 and set a “buy” rating on the stock in a research report on Friday, August 23rd. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $132.13.

Hedge Funds Weigh In On Baidu

A number of hedge funds and other institutional investors have recently made changes to their positions in BIDU. Crewe Advisors LLC purchased a new position in Baidu during the 1st quarter valued at about $31,000. Silicon Valley Capital Partners purchased a new position in Baidu during the first quarter valued at approximately $53,000. Accent Capital Management LLC bought a new position in Baidu in the fourth quarter worth approximately $66,000. iA Global Asset Management Inc. purchased a new stake in Baidu during the second quarter worth $52,000. Finally, Grove Bank & Trust boosted its position in Baidu by 21.6% during the 3rd quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock valued at $77,000 after acquiring an additional 130 shares in the last quarter.

Baidu Trading Down 0.3 %

Shares of NASDAQ:BIDU traded down $0.27 during trading on Friday, reaching $103.80. 3,464,031 shares of the company were exchanged, compared to its average volume of 3,622,708. The business’s fifty day simple moving average is $90.71 and its 200-day simple moving average is $95.40. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.32 and a quick ratio of 2.32. Baidu has a 12-month low of $79.68 and a 12-month high of $134.04. The firm has a market capitalization of $36.40 billion, a PE ratio of 13.68 and a beta of 0.49.

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.