Baidu, Inc. (NASDAQ:BIDU) Short Interest Update

Baidu, Inc. (NASDAQ:BIDU) was the target of a large growth in short interest during the month of 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 days-to-cover ratio is presently 1.9 days.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Baidu during the 3rd quarter worth about $1,054,000. Handelsbanken Fonder AB lifted its position in shares of Baidu by 8.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 182,817 shares of the information services provider’s stock valued at $19,249,000 after acquiring an additional 15,000 shares during the period. Clear Harbor Asset Management LLC grew its holdings in Baidu by 82.9% in the third quarter. Clear Harbor Asset Management LLC now owns 20,503 shares of the information services provider’s stock worth $2,159,000 after purchasing an additional 9,292 shares during the period. B. Riley Wealth Advisors Inc. bought a new stake in Baidu in the second quarter valued at $606,000. Finally, Swedbank AB acquired a new position in shares of Baidu during the first quarter valued at about $4,351,000.

Baidu Price Performance

NASDAQ BIDU traded up $0.23 during trading on Monday, hitting $85.05. 2,495,743 shares of the company’s stock were exchanged, compared to its average volume of 3,630,001. The company has a market cap of $29.82 billion, a PE ratio of 10.41, a P/E/G ratio of 1.12 and a beta of 0.51. Baidu has a fifty-two week low of $78.95 and a fifty-two week high of $120.25. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.18. The stock’s 50 day moving average price is $93.57 and its two-hundred day moving average price is $91.50.

Analyst Ratings Changes

A number of brokerages have recently commented on BIDU. Loop Capital cut their price objective on shares of Baidu from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, August 26th. Susquehanna lowered Baidu from a “positive” rating to a “neutral” rating and decreased their price target for the company from $105.00 to $85.00 in a research note on Monday, November 25th. Benchmark cut their price objective on Baidu from $135.00 to $130.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Sanford C. Bernstein lowered shares of Baidu from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $130.00 to $97.00 in a report on Friday, August 23rd. Finally, Jefferies Financial Group dropped their price objective on shares of Baidu from $174.00 to $139.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $113.75.

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.