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

Baidu, Inc. (NASDAQ:BIDU) was the recipient of a large decline in short interest during the month of December. As of December 15th, there was short interest totalling 8,170,000 shares, a decline 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 days-to-cover ratio is presently 1.9 days. Currently, 2.9% of the company’s stock are short sold.

Hedge Funds Weigh In On Baidu

Several institutional investors and hedge funds have recently bought and sold shares of BIDU. B. Riley Wealth Advisors Inc. lifted its position in shares of Baidu by 134.4% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 16,421 shares of the information services provider’s stock valued at $1,739,000 after buying an additional 9,415 shares in the last quarter. DGS Capital Management LLC boosted its position in shares of Baidu by 23.5% in the third quarter. DGS Capital Management LLC now owns 3,281 shares of the information services provider’s stock worth $345,000 after purchasing an additional 624 shares during the period. Denver PWM LLC increased its stake in shares of Baidu by 28.5% in the third quarter. Denver PWM LLC now owns 991 shares of the information services provider’s stock worth $104,000 after purchasing an additional 220 shares in the last quarter. World Investment Advisors LLC bought a new stake in shares of Baidu during the 3rd quarter valued at $72,000. Finally, Coldstream Capital Management Inc. purchased a new position in shares of Baidu during the 3rd quarter valued at $653,000.

Baidu Stock Performance

Shares of BIDU stock traded up $0.32 during mid-day trading on Tuesday, reaching $84.37. 2,317,399 shares of the company’s stock traded hands, compared to its average volume of 3,544,688. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.19 and a current ratio of 2.19. The firm has a market capitalization of $29.58 billion, a PE ratio of 10.33, a price-to-earnings-growth ratio of 1.19 and a beta of 0.46. Baidu has a 12 month low of $78.95 and a 12 month high of $119.75. The firm has a 50 day moving average price of $87.76 and a two-hundred day moving average price of $89.73.

Analyst Ratings Changes

BIDU has been the subject of a number of recent analyst reports. Citigroup decreased their price objective on shares of Baidu from $142.00 to $141.00 and set a “buy” rating for the company in a report on Friday, November 29th. Mizuho dropped their price objective on Baidu from $130.00 to $115.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. Hsbc Global Res lowered Baidu from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. StockNews.com raised shares of Baidu from a “hold” rating to a “buy” rating in a report on Friday. Finally, Susquehanna cut shares of Baidu from a “positive” rating to a “neutral” rating and decreased their price objective for the company from $105.00 to $85.00 in a report on Monday, November 25th. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target 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.