Baidu, Inc. (NASDAQ:BIDU) Short Interest Up 12.3% in November

Baidu, Inc. (NASDAQ:BIDU) was the target of a significant growth in short interest in November. As of November 30th, there was short interest totalling 8,700,000 shares, a growth of 12.3% from the November 15th total of 7,750,000 shares. Based on an average daily volume of 4,200,000 shares, the short-interest ratio is presently 2.1 days.

Institutional Investors Weigh In On Baidu

Institutional investors and hedge funds have recently modified their holdings of the company. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Baidu in the 3rd quarter valued at about $1,054,000. Fred Alger Management LLC acquired a new position in shares of Baidu in the third quarter valued at approximately $790,000. Handelsbanken Fonder AB increased its stake in Baidu by 8.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 182,817 shares of the information services provider’s stock worth $19,249,000 after buying an additional 15,000 shares during the period. Maple Rock Capital Partners Inc. acquired a new stake in Baidu during the 3rd quarter worth approximately $42,748,000. Finally, Clear Harbor Asset Management LLC boosted its position in Baidu by 82.9% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 20,503 shares of the information services provider’s stock valued at $2,159,000 after buying an additional 9,292 shares during the period.

Baidu Trading Up 0.6 %

NASDAQ:BIDU traded up $0.50 during trading hours on Friday, reaching $90.82. 2,420,958 shares of the stock were exchanged, compared to its average volume of 3,601,490. Baidu has a twelve month low of $78.95 and a twelve month high of $120.25. The business has a 50-day moving average of $90.51 and a two-hundred day moving average of $90.39. The company has a market capitalization of $31.85 billion, a price-to-earnings ratio of 11.12, a PEG ratio of 1.19 and a beta of 0.46. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.18.

Wall Street Analyst Weigh In

BIDU has been the topic of a number of analyst reports. China Renaissance downgraded Baidu from a “buy” rating to a “hold” rating and set a $86.00 price objective on the stock. in a research report on Monday, November 25th. Jefferies Financial Group lowered their price target on shares of Baidu from $174.00 to $139.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Dbs Bank cut shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Barclays downgraded shares of Baidu from an “overweight” rating to an “equal weight” rating in a research note on Friday, November 22nd. Finally, Sanford C. Bernstein cut shares of Baidu from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $130.00 to $97.00 in a research note on Friday, August 23rd. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus 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.