Baidu, Inc. (NASDAQ:BIDU – Get Free Report) was the target of a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 8,700,000 shares, an increase of 13.9% from the August 15th total of 7,640,000 shares. Based on an average trading volume of 3,320,000 shares, the days-to-cover ratio is currently 2.6 days.
Baidu Stock Up 1.8 %
Shares of BIDU stock traded up $1.52 during trading hours on Tuesday, reaching $85.60. 1,379,012 shares of the company’s stock were exchanged, compared to its average volume of 3,337,344. Baidu has a fifty-two week low of $79.68 and a fifty-two week high of $136.53. The stock’s 50 day moving average is $87.27 and its 200-day moving average is $95.62. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.19. The company has a market cap of $30.02 billion, a price-to-earnings ratio of 11.26 and a beta of 0.48.
Hedge Funds Weigh In On Baidu
Hedge funds have recently made changes to their positions in the company. Primecap Management Co. CA lifted its stake in Baidu by 17.2% during the 2nd quarter. Primecap Management Co. CA now owns 11,947,706 shares of the information services provider’s stock valued at $1,033,238,000 after acquiring an additional 1,753,577 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of Baidu by 49.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,018,685 shares of the information services provider’s stock valued at $107,247,000 after buying an additional 338,110 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Baidu by 139.3% in the 4th quarter. Hsbc Holdings PLC now owns 536,748 shares of the information services provider’s stock valued at $63,907,000 after buying an additional 312,467 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in shares of Baidu by 103.1% in the second quarter. DekaBank Deutsche Girozentrale now owns 582,475 shares of the information services provider’s stock worth $51,192,000 after buying an additional 295,700 shares during the last quarter. Finally, XY Capital Ltd acquired a new stake in Baidu during the second quarter worth about $23,880,000.
Analyst Upgrades and Downgrades
Read Our Latest Research Report on Baidu
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.
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