Short Interest in Baidu, Inc. (NASDAQ:BIDU) Increases By 24.6%

Baidu, Inc. (NASDAQ:BIDU) saw a significant increase in short interest in the month of July. As of July 15th, there was short interest totalling 7,450,000 shares, an increase of 24.6% from the June 30th total of 5,980,000 shares. Based on an average trading volume of 3,790,000 shares, the days-to-cover ratio is presently 2.0 days.

Baidu Stock Performance

Shares of NASDAQ BIDU traded up $1.19 during trading hours on Friday, reaching $88.98. The stock had a trading volume of 2,065,874 shares, compared to its average volume of 4,619,466. The business’s fifty day moving average is $93.69 and its two-hundred day moving average is $101.16. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.79 and a quick ratio of 2.79. The company has a market cap of $31.20 billion, a price-to-earnings ratio of 11.91 and a beta of 0.49. Baidu has a twelve month low of $85.08 and a twelve month high of $156.98.

Wall Street Analysts Forecast Growth

BIDU has been the topic of several research reports. Benchmark reiterated a “buy” rating and issued a $180.00 price target on shares of Baidu in a research report on Friday, May 17th. Bank of America cut their price objective on Baidu from $140.00 to $128.00 and set a “buy” rating on the stock in a report on Tuesday, July 16th. Susquehanna cut their price objective on Baidu from $150.00 to $135.00 and set a “positive” rating on the stock in a report on Friday, May 24th. Barclays cut their price objective on Baidu from $133.00 to $125.00 and set an “overweight” rating on the stock in a report on Wednesday, July 17th. Finally, Loop Capital cut their price objective on Baidu from $155.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, June 21st. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $149.60.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Nordea Investment Management AB raised its stake in shares of Baidu by 14.5% in the first quarter. Nordea Investment Management AB now owns 398,387 shares of the information services provider’s stock valued at $42,125,000 after purchasing an additional 50,599 shares in the last quarter. Trexquant Investment LP acquired a new position in shares of Baidu in the fourth quarter valued at $1,476,000. Perpetual Ltd raised its stake in shares of Baidu by 45.4% in the first quarter. Perpetual Ltd now owns 147,165 shares of the information services provider’s stock valued at $15,451,000 after purchasing an additional 45,975 shares in the last quarter. Jennison Associates LLC raised its stake in shares of Baidu by 54.5% in the fourth quarter. Jennison Associates LLC now owns 85,306 shares of the information services provider’s stock valued at $10,159,000 after purchasing an additional 30,103 shares in the last quarter. Finally, ANTIPODES PARTNERS Ltd raised its stake in Baidu by 8.8% during the fourth quarter. ANTIPODES PARTNERS Ltd now owns 1,438,716 shares of the information services provider’s stock worth $171,336,000 after acquiring an additional 116,047 shares in 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.