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

Baidu, Inc. (NASDAQ:BIDU) was the target of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 9,180,000 shares, a growth of 25.6% from the March 15th total of 7,310,000 shares. Based on an average daily volume of 5,760,000 shares, the short-interest ratio is currently 1.6 days. Currently, 3.3% of the shares of the company are sold short.

Institutional Trading of Baidu

Several hedge funds have recently modified their holdings of the stock. RPD Fund Management LLC acquired a new stake in Baidu in the 4th quarter valued at about $72,245,000. FIL Ltd lifted its stake in Baidu by 367.1% in the fourth quarter. FIL Ltd now owns 599,918 shares of the information services provider’s stock worth $50,579,000 after acquiring an additional 471,497 shares during the last quarter. Cantor Fitzgerald L. P. grew its holdings in Baidu by 1,510.9% during the 4th quarter. Cantor Fitzgerald L. P. now owns 399,975 shares of the information services provider’s stock worth $33,722,000 after acquiring an additional 375,145 shares in the last quarter. Polunin Capital Partners Ltd acquired a new stake in shares of Baidu in the 1st quarter valued at $31,748,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Baidu by 1,111.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 360,378 shares of the information services provider’s stock worth $30,317,000 after purchasing an additional 330,627 shares during the last quarter.

Baidu Stock Up 0.1 %

Shares of BIDU stock traded up $0.09 during trading on Friday, reaching $82.59. The company’s stock had a trading volume of 2,285,728 shares, compared to its average volume of 4,190,037. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.09 and a quick ratio of 2.19. Baidu has a 1-year low of $74.71 and a 1-year high of $116.25. The company has a market capitalization of $28.96 billion, a price-to-earnings ratio of 9.01, a P/E/G ratio of 2.96 and a beta of 0.33. The stock’s 50-day moving average price is $89.95 and its 200 day moving average price is $89.25.

Analyst Ratings Changes

A number of research firms recently commented on BIDU. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Baidu in a report on Saturday, March 8th. Benchmark reaffirmed a “buy” rating and issued a $130.00 price objective on shares of Baidu in a report on Wednesday, February 19th. Daiwa Capital Markets reissued an “outperform” rating on shares of Baidu in a report on Tuesday, February 18th. Mizuho upped their price target on shares of Baidu from $95.00 to $105.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Finally, Barclays lifted their price objective on Baidu from $83.00 to $95.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 11th. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Baidu has a consensus rating of “Hold” and a consensus price target of $111.25.

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.