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

Baidu, Inc. (NASDAQ:BIDU) was the recipient of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 8,700,000 shares, a growth of 13.9% from the August 15th total of 7,640,000 shares. Based on an average daily volume of 3,320,000 shares, the days-to-cover ratio is currently 2.6 days.

Wall Street Analyst Weigh In

BIDU has been the topic of a number of recent analyst reports. StockNews.com lowered shares of Baidu from a “buy” rating to a “hold” rating in a research report on Tuesday, July 16th. Susquehanna cut their target price on shares of Baidu from $135.00 to $105.00 and set a “positive” rating for the company in a research report on Thursday, September 5th. Citigroup decreased their price target on shares of Baidu from $170.00 to $155.00 and set a “buy” rating for the company in a report on Monday, July 15th. Benchmark dropped their price objective on Baidu from $180.00 to $135.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Finally, Loop Capital decreased their target price on Baidu from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, August 26th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Baidu has a consensus rating of “Moderate Buy” and an average price target of $135.13.

Baidu Price Performance

Shares of BIDU stock traded down $0.42 during mid-day trading on Friday, reaching $83.65. The company’s stock had a trading volume of 1,983,034 shares, compared to its average volume of 3,358,161. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.32 and a current ratio of 2.32. The firm’s 50-day moving average is $87.35 and its two-hundred day moving average is $95.74. Baidu has a 1-year low of $79.68 and a 1-year high of $139.32. The company has a market cap of $29.33 billion, a P/E ratio of 11.20 and a beta of 0.48.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Crewe Advisors LLC bought a new position in shares of Baidu during the first quarter valued at $31,000. Newbridge Financial Services Group Inc. bought a new position in Baidu during the 1st quarter valued at about $32,000. iA Global Asset Management Inc. bought a new stake in Baidu during the second quarter worth about $52,000. Silicon Valley Capital Partners bought a new stake in Baidu during the first quarter worth about $53,000. Finally, Accent Capital Management LLC acquired a new stake in shares of Baidu during the fourth quarter worth approximately $66,000.

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.