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

Baidu, Inc. (NASDAQ:BIDU - Get Free Report) saw a significant growth in short interest in 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 trading volume of 5,760,000 shares, the short-interest ratio is presently 1.6 days. Approximately 3.3% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Nomura Securities cut Baidu from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 19th. Benchmark reissued a "buy" rating and set a $130.00 price target on shares of Baidu in a research note on Wednesday, February 19th. StockNews.com cut shares of Baidu from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Mizuho increased their target price on Baidu from $95.00 to $105.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Finally, Nomura downgraded Baidu from a "buy" rating to a "neutral" rating in a research report on Wednesday, February 19th. Thirteen analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $110.83.

Baidu Stock Performance

Baidu stock traded up $0.82 during mid-day trading on Thursday, reaching $88.33. 250,744 shares of the stock traded hands, compared to its average volume of 4,168,401. The business's 50-day moving average is $89.31 and its 200-day moving average is $88.89. The stock has a market capitalization of $30.97 billion, a PE ratio of 9.64, a price-to-earnings-growth ratio of 2.96 and a beta of 0.33. Baidu has a 12-month low of $74.71 and a 12-month high of $116.25. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.09 and a quick ratio of 2.19.

Institutional Investors Weigh In On Baidu

Institutional investors have recently added to or reduced their stakes in the stock. Dodge & Cox raised its position in Baidu by 0.4% during the fourth quarter. Dodge & Cox now owns 5,916,215 shares of the information services provider's stock valued at $498,796,000 after purchasing an additional 22,000 shares during the period. Pictet Asset Management Holding SA lifted its stake in shares of Baidu by 9.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,410,307 shares of the information services provider's stock worth $203,213,000 after purchasing an additional 207,966 shares during the last quarter. Appaloosa LP boosted its position in Baidu by 7.2% during the fourth quarter. Appaloosa LP now owns 1,527,909 shares of the information services provider's stock valued at $128,818,000 after purchasing an additional 102,909 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Baidu by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,350,315 shares of the information services provider's stock valued at $113,845,000 after purchasing an additional 4,236 shares during the last quarter. Finally, CoreView Capital Management Ltd lifted its position in shares of Baidu by 2.0% during the fourth quarter. CoreView Capital Management Ltd now owns 1,262,003 shares of the information services provider's stock valued at $106,399,000 after buying an additional 25,220 shares during the last quarter.

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.