Short Interest in Baidu, Inc. (NASDAQ:BIDU) Increases By 24.6%

Baidu, Inc. (NASDAQ:BIDU) was the recipient of a significant growth in short interest in the month of July. As of July 15th, there was short interest totalling 7,450,000 shares, a growth of 24.6% from the June 30th total of 5,980,000 shares. Based on an average trading volume of 3,790,000 shares, the short-interest ratio is presently 2.0 days.

Baidu Price Performance

Baidu stock traded up $1.19 during midday trading on Friday, hitting $88.98. 2,065,874 shares of the company’s stock were exchanged, compared to its average volume of 4,619,466. Baidu has a 52-week low of $85.08 and a 52-week high of $156.98. The stock has a 50-day moving average price of $93.69 and a two-hundred day moving average price of $101.16. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.79 and a current ratio of 2.79. The company has a market cap of $31.20 billion, a P/E ratio of 11.91 and a beta of 0.49.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. StockNews.com cut Baidu from a “buy” rating to a “hold” rating in a research note on Tuesday, July 16th. Mizuho reduced their price objective on Baidu from $140.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Citigroup dropped their target price on Baidu from $170.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, July 15th. HSBC dropped their target price on Baidu from $157.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, April 24th. Finally, Macquarie lowered Baidu from a “strong-buy” rating to a “hold” rating in a report on Friday, May 17th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.60.

Hedge Funds Weigh In On Baidu

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. National Bank of Canada FI lifted its stake in Baidu by 90,390.0% during the fourth quarter. National Bank of Canada FI now owns 901,280 shares of the information services provider’s stock worth $103,953,000 after purchasing an additional 900,284 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in Baidu by 49.7% during the first quarter. Canada Pension Plan Investment Board now owns 1,018,685 shares of the information services provider’s stock worth $107,247,000 after purchasing an additional 338,110 shares during the last quarter. Hsbc Holdings PLC lifted its stake in Baidu by 139.3% during the fourth quarter. Hsbc Holdings PLC now owns 536,748 shares of the information services provider’s stock worth $63,907,000 after purchasing an additional 312,467 shares during the last quarter. SG Americas Securities LLC lifted its stake in Baidu by 337.5% during the first quarter. SG Americas Securities LLC now owns 250,418 shares of the information services provider’s stock worth $26,364,000 after purchasing an additional 193,180 shares during the last quarter. Finally, M&G Plc bought a new stake in Baidu during the first quarter worth about $18,152,000.

Baidu Company Profile

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.