Baidu, Inc. (NASDAQ:BIDU) Short Interest Down 6.1% in December

Baidu, Inc. (NASDAQ:BIDU) was the target of a significant decrease in short interest in the month of December. As of December 15th, there was short interest totalling 8,170,000 shares, a decrease of 6.1% from the November 30th total of 8,700,000 shares. Based on an average daily trading volume, of 4,260,000 shares, the short-interest ratio is currently 1.9 days. Approximately 2.9% of the company’s shares are short sold.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BIDU. JPMorgan Chase & Co. cut Baidu from an “overweight” rating to a “neutral” rating in a research note on Wednesday, November 27th. Dbs Bank cut Baidu from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 3rd. Hsbc Global Res lowered Baidu from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Mizuho decreased their target price on shares of Baidu from $130.00 to $115.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. Finally, Benchmark lowered their price target on shares of Baidu from $135.00 to $130.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Baidu has an average rating of “Hold” and an average price target of $113.75.

Baidu Stock Up 0.4 %

Shares of NASDAQ:BIDU traded up $0.32 during trading on Tuesday, hitting $84.37. The stock had a trading volume of 2,317,399 shares, compared to its average volume of 3,544,688. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.18. Baidu has a 12 month low of $78.95 and a 12 month high of $119.75. The company has a market capitalization of $29.58 billion, a PE ratio of 10.33, a PEG ratio of 1.19 and a beta of 0.46. The firm’s fifty day moving average is $87.76 and its 200 day moving average is $89.73.

Hedge Funds Weigh In On Baidu

A number of institutional investors have recently added to or reduced their stakes in BIDU. iA Global Asset Management Inc. bought a new position in shares of Baidu in the 2nd quarter worth about $52,000. Denver PWM LLC bought a new position in shares of Baidu during the second quarter valued at approximately $67,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Baidu by 630.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock valued at $72,000 after purchasing an additional 593 shares during the last quarter. World Investment Advisors LLC bought a new stake in shares of Baidu in the 3rd quarter worth approximately $72,000. Finally, Grove Bank & Trust grew its stake in shares of Baidu by 21.6% in the 3rd quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock worth $77,000 after buying an additional 130 shares during the last quarter.

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.