Baidu Target of Unusually High Options Trading (NASDAQ:BIDU)

Baidu, Inc. (NASDAQ:BIDU) was the target of some unusual options trading activity on Tuesday. Investors bought 25,740 call options on the stock. This represents an increase of 25% compared to the typical volume of 20,625 call options.

Baidu Price Performance

BIDU stock traded down $5.11 during midday trading on Tuesday, reaching $108.28. 1,605,435 shares of the stock were exchanged, compared to its average volume of 2,607,175. Baidu has a 52 week low of $84.64 and a 52 week high of $165.30. The company has a fifty day moving average price of $123.96 and a 200 day moving average price of $128.61. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.85 and a quick ratio of 1.85. The stock has a market capitalization of $36.84 billion, a PE ratio of -901.84, a P/E/G ratio of 2.01 and a beta of 0.56.

Analysts Set New Price Targets

Several equities research analysts have weighed in on BIDU shares. BNP Paribas Exane started coverage on Baidu in a research note on Wednesday, April 1st. They set an “outperform” rating and a $161.00 target price for the company. Barclays lowered their price target on Baidu from $128.00 to $124.00 and set an “equal weight” rating for the company in a report on Monday. Morgan Stanley upped their price objective on Baidu from $135.00 to $140.00 in a research report on Tuesday, May 19th. Susquehanna raised their price objective on Baidu from $120.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday, May 20th. Finally, Benchmark reiterated a “buy” rating and issued a $215.00 target price on shares of Baidu in a research report on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $163.11.

Institutional Trading of Baidu

Hedge funds and other institutional investors have recently made changes to their positions in the company. Handelsbanken Fonder AB increased its stake in shares of Baidu by 110.9% in the second quarter. Handelsbanken Fonder AB now owns 246,789 shares of the information services provider’s stock valued at $28,206,000 after buying an additional 129,789 shares during the period. Steadtrust LLC boosted its position in Baidu by 1.2% during the 2nd quarter. Steadtrust LLC now owns 8,225 shares of the information services provider’s stock worth $940,000 after buying an additional 100 shares during the period. FNY Investment Advisers LLC grew its holdings in Baidu by 101.3% during the 2nd quarter. FNY Investment Advisers LLC now owns 6,999 shares of the information services provider’s stock worth $799,000 after acquiring an additional 3,522 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Baidu by 100.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 5,266 shares of the information services provider’s stock worth $602,000 after acquiring an additional 2,634 shares during the last quarter. Finally, 180 Wealth Advisors LLC acquired a new position in Baidu in the 2nd quarter valued at approximately $205,000.

Baidu Company Profile

Baidu, Inc, founded in 2000 and headquartered in Beijing, is a Chinese multinational technology company best known for operating one of China’s leading internet search engines. The company built its business around online search and related advertising services, providing search, content aggregation and targeted ad placements to consumers and marketers across China. Baidu went public on the NASDAQ in 2005 and has since diversified beyond search into a broader technology and AI-focused portfolio.

Core products and services include the Baidu search platform and mobile app, Baidu Maps and Baidu Baike (an online encyclopedia), along with digital content initiatives.