Baidu, Inc. (NASDAQ:BIDU) Sees Large Growth in Short Interest

Baidu, Inc. (NASDAQ:BIDU) was the target of a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 6,370,000 shares, an increase of 10.2% from the May 31st total of 5,780,000 shares. Based on an average daily volume of 3,290,000 shares, the short-interest ratio is currently 1.9 days.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on BIDU shares. Morgan Stanley cut shares of Baidu from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $140.00 to $125.00 in a research report on Friday, May 17th. Benchmark reissued a “buy” rating and issued a $180.00 price target on shares of Baidu in a research report on Friday, May 17th. StockNews.com cut shares of Baidu from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. Susquehanna reduced their price target on shares of Baidu from $150.00 to $135.00 and set a “positive” rating for the company in a research report on Friday, May 24th. Finally, Citigroup reduced their price target on shares of Baidu from $181.00 to $176.00 and set a “buy” rating for the company in a research report on Tuesday, April 9th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.64.

Baidu Trading Up 3.7 %

Shares of Baidu stock traded up $3.19 during trading hours on Wednesday, hitting $90.06. The company’s stock had a trading volume of 2,797,258 shares, compared to its average volume of 3,321,708. Baidu has a 1-year low of $85.08 and a 1-year high of $156.98. The business has a fifty day moving average of $99.47 and a 200 day moving average of $104.10. The company has a market capitalization of $31.58 billion, a PE ratio of 12.06 and a beta of 0.49. The company has a quick ratio of 2.79, a current ratio of 2.79 and a debt-to-equity ratio of 0.25.

Institutional Investors Weigh In On Baidu

Several large investors have recently made changes to their positions in BIDU. Crossmark Global Holdings Inc. grew its holdings in Baidu by 0.3% during the 4th quarter. Crossmark Global Holdings Inc. now owns 29,375 shares of the information services provider’s stock valued at $3,498,000 after purchasing an additional 99 shares in the last quarter. Kingsview Wealth Management LLC boosted its stake in Baidu by 5.8% during the 4th quarter. Kingsview Wealth Management LLC now owns 2,005 shares of the information services provider’s stock valued at $239,000 after acquiring an additional 110 shares during the last quarter. Beacon Financial Group boosted its stake in Baidu by 7.2% during the 4th quarter. Beacon Financial Group now owns 1,894 shares of the information services provider’s stock valued at $226,000 after acquiring an additional 128 shares during the last quarter. Ignite Planners LLC boosted its stake in Baidu by 3.8% during the 1st quarter. Ignite Planners LLC now owns 3,791 shares of the information services provider’s stock valued at $411,000 after acquiring an additional 139 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in Baidu by 8.2% during the 1st quarter. Advisors Asset Management Inc. now owns 2,583 shares of the information services provider’s stock valued at $272,000 after acquiring an additional 196 shares during the last quarter.

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.