Traders Buy High Volume of Call Options on Baidu (NASDAQ:BIDU)

Baidu, Inc. (NASDAQ:BIDU) was the target of unusually large options trading on Wednesday. Stock investors purchased 65,526 call options on the stock. This represents an increase of 23% compared to the typical volume of 53,068 call options.

Institutional Investors Weigh In On Baidu

Several institutional investors and hedge funds have recently made changes to their positions in the business. Crewe Advisors LLC bought a new stake in shares of Baidu during the first quarter valued at approximately $31,000. iA Global Asset Management Inc. purchased a new position in Baidu in the 2nd quarter valued at approximately $52,000. Silicon Valley Capital Partners purchased a new position in shares of Baidu in the first quarter valued at $53,000. Accent Capital Management LLC purchased a new position in Baidu during the 4th quarter valued at about $66,000. Finally, Denver PWM LLC bought a new stake in Baidu during the 2nd quarter worth approximately $67,000.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Loop Capital decreased their target price on shares of Baidu from $120.00 to $115.00 and set a “buy” rating for the company in a report on Monday, August 26th. Jefferies Financial Group lowered their target price on shares of Baidu from $174.00 to $139.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. HSBC downgraded Baidu from a “buy” rating to a “hold” rating and set a $100.00 price target on the stock. in a report on Tuesday, September 24th. Citigroup dropped their price objective on Baidu from $170.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Finally, StockNews.com cut shares of Baidu from a “buy” rating to a “hold” rating in a research note on Tuesday, July 16th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $132.13.

Baidu Price Performance

Shares of BIDU opened at $104.07 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.32 and a quick ratio of 2.32. Baidu has a 1 year low of $79.68 and a 1 year high of $135.85. The business has a 50-day moving average of $89.97 and a 200-day moving average of $95.41. The company has a market capitalization of $36.49 billion, a price-to-earnings ratio of 14.01 and a beta of 0.49.

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.