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

Baidu, Inc. (NASDAQ:BIDU) was the target of a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 6,490,000 shares, a growth of 17.6% from the March 31st total of 5,520,000 shares. Based on an average daily volume of 3,280,000 shares, the days-to-cover ratio is presently 2.0 days.

Baidu Stock Up 5.6 %

Shares of BIDU traded up $5.65 during mid-day trading on Monday, hitting $106.17. 9,410,973 shares of the company’s stock were exchanged, compared to its average volume of 3,409,025. The company has a market cap of $37.23 billion, a price-to-earnings ratio of 13.84 and a beta of 0.68. Baidu has a fifty-two week low of $94.25 and a fifty-two week high of $156.98. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.01 and a current ratio of 3.01. The stock’s 50-day moving average is $103.06 and its 200-day moving average is $108.55.

Institutional Trading of Baidu

Hedge funds have recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC purchased a new position in Baidu in the fourth quarter valued at approximately $25,000. Headinvest LLC purchased a new position in Baidu in the third quarter valued at approximately $36,000. Newbridge Financial Services Group Inc. purchased a new position in Baidu in the first quarter valued at approximately $32,000. FNY Investment Advisers LLC purchased a new position in Baidu in the fourth quarter valued at approximately $42,000. Finally, Pacific Capital Wealth Advisors Inc. purchased a new position in shares of Baidu during the fourth quarter worth approximately $48,000.

Wall Street Analyst Weigh In

BIDU has been the topic of several recent analyst reports. Citigroup reduced their target price on shares of Baidu from $181.00 to $176.00 and set a “buy” rating on the stock in a research note on Tuesday, April 9th. Barclays reduced their price target on shares of Baidu from $138.00 to $133.00 and set an “overweight” rating on the stock in a research note on Thursday, February 29th. StockNews.com downgraded shares of Baidu from a “buy” rating to a “hold” rating in a research note on Saturday, March 23rd. Finally, HSBC reduced their price target on shares of Baidu from $157.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, April 24th. One investment analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $171.64.

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.