Short Interest in Baidu, Inc. (NASDAQ:BIDU) Increases By 13.9%

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

Baidu Stock Up 2.0 %

Shares of Baidu stock traded up $1.72 on Tuesday, reaching $85.80. 760,676 shares of the company were exchanged, compared to its average volume of 3,333,942. The company has a market capitalization of $30.09 billion, a price-to-earnings ratio of 11.26 and a beta of 0.48. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.19. Baidu has a one year low of $79.68 and a one year high of $136.53. The company has a 50-day moving average of $87.27 and a 200 day moving average of $95.62.

Hedge Funds Weigh In On Baidu

A number of institutional investors have recently added to or reduced their stakes in BIDU. Crossmark Global Holdings Inc. increased its stake in shares of Baidu by 0.3% during the 4th quarter. Crossmark Global Holdings Inc. now owns 29,375 shares of the information services provider’s stock worth $3,498,000 after purchasing an additional 99 shares during the last quarter. Guinness Asset Management LTD increased its position in Baidu by 4.4% during the second quarter. Guinness Asset Management LTD now owns 2,360 shares of the information services provider’s stock worth $204,000 after buying an additional 100 shares during the last quarter. Kingsview Wealth Management LLC raised its stake in Baidu by 5.8% in the fourth quarter. Kingsview Wealth Management LLC now owns 2,005 shares of the information services provider’s stock valued at $239,000 after buying an additional 110 shares during the period. Beacon Financial Group lifted its position in shares of Baidu by 7.2% in the fourth quarter. Beacon Financial Group now owns 1,894 shares of the information services provider’s stock valued at $226,000 after buying an additional 128 shares during the last quarter. Finally, Ignite Planners LLC boosted its stake in shares of Baidu by 3.8% during the 1st quarter. Ignite Planners LLC now owns 3,791 shares of the information services provider’s stock worth $411,000 after acquiring an additional 139 shares during the period.

Analysts Set New Price Targets

Several equities research analysts have issued reports on BIDU shares. Benchmark lowered their price target on Baidu from $180.00 to $135.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. StockNews.com cut Baidu from a “buy” rating to a “hold” rating in a research note on Tuesday, July 16th. Citigroup cut their price target on shares of Baidu from $170.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Loop Capital lowered their price objective on shares of Baidu from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, August 26th. Finally, Sanford C. Bernstein lowered shares of Baidu from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $130.00 to $97.00 in a report on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $135.13.

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.