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

Baidu, Inc. (NASDAQ:BIDU - Get Free Report) was the recipient of a significant drop in short interest in December. As of December 15th, there was short interest totalling 8,170,000 shares, a drop of 6.1% from the November 30th total of 8,700,000 shares. Based on an average daily volume of 4,260,000 shares, the short-interest ratio is currently 1.9 days. Approximately 2.9% of the shares of the company are short sold.

Baidu Stock Up 0.3 %

Baidu stock traded up $0.26 on Tuesday, hitting $84.31. 2,656,782 shares of the stock traded hands, compared to its average volume of 3,546,729. Baidu has a 1 year low of $78.95 and a 1 year high of $119.75. The firm has a market cap of $29.56 billion, a P/E ratio of 10.32, a price-to-earnings-growth ratio of 1.19 and a beta of 0.46. The business's fifty day simple moving average is $87.61 and its 200 day simple moving average is $89.67. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.18.

Hedge Funds Weigh In On Baidu

Several institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James & Associates lifted its stake in shares of Baidu by 31.4% in the second quarter. Raymond James & Associates now owns 14,368 shares of the information services provider's stock worth $1,243,000 after buying an additional 3,432 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Baidu by 38.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,476 shares of the information services provider's stock worth $387,000 after purchasing an additional 1,238 shares during the last quarter. iA Global Asset Management Inc. bought a new position in shares of Baidu during the second quarter valued at $52,000. Commonwealth Equity Services LLC boosted its position in shares of Baidu by 5.9% during the second quarter. Commonwealth Equity Services LLC now owns 23,787 shares of the information services provider's stock valued at $2,057,000 after buying an additional 1,330 shares during the last quarter. Finally, CM Management LLC increased its holdings in Baidu by 100.0% in the 2nd quarter. CM Management LLC now owns 30,000 shares of the information services provider's stock worth $2,594,000 after buying an additional 15,000 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Hsbc Global Res cut shares of Baidu from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 24th. Susquehanna downgraded Baidu from a "positive" rating to a "neutral" rating and dropped their target price for the stock from $105.00 to $85.00 in a research report on Monday, November 25th. Barclays cut Baidu from an "overweight" rating to an "equal weight" rating in a research report on Friday, November 22nd. Citigroup dropped their price objective on Baidu from $142.00 to $141.00 and set a "buy" rating on the stock in a report on Friday, November 29th. Finally, HSBC downgraded shares of Baidu from a "buy" rating to a "hold" rating and set a $100.00 price target for the company. in a report on Tuesday, September 24th. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $113.75.

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.