Short Interest in Baidu, Inc. (NASDAQ:BIDU) Rises By 25.6%

Baidu, Inc. (NASDAQ:BIDU) saw a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 9,180,000 shares, an increase of 25.6% from the March 15th total of 7,310,000 shares. Approximately 3.3% of the shares of the company are short sold. Based on an average trading volume of 5,760,000 shares, the days-to-cover ratio is currently 1.6 days.

Baidu Stock Performance

NASDAQ BIDU opened at $82.98 on Tuesday. Baidu has a 12-month low of $74.71 and a 12-month high of $116.25. The company has a quick ratio of 2.19, a current ratio of 2.09 and a debt-to-equity ratio of 0.19. The company has a 50-day simple moving average of $89.74 and a two-hundred day simple moving average of $88.92. The firm has a market cap of $29.10 billion, a price-to-earnings ratio of 9.05, a PEG ratio of 2.96 and a beta of 0.33.

Institutional Trading of Baidu

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Dodge & Cox grew its holdings in Baidu by 0.4% in the 4th quarter. Dodge & Cox now owns 5,916,215 shares of the information services provider’s stock worth $498,796,000 after acquiring an additional 22,000 shares during the last quarter. Pictet Asset Management Holding SA raised its position in 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 valued at $203,213,000 after purchasing an additional 207,966 shares during the last quarter. Appaloosa LP lifted its holdings in Baidu by 7.2% in the 4th quarter. Appaloosa LP now owns 1,527,909 shares of the information services provider’s stock worth $128,818,000 after buying an additional 102,909 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Baidu by 0.3% during 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 buying an additional 4,236 shares during the period. Finally, CoreView Capital Management Ltd lifted its stake in Baidu by 2.0% in the fourth quarter. CoreView Capital Management Ltd now owns 1,262,003 shares of the information services provider’s stock worth $106,399,000 after acquiring an additional 25,220 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on BIDU shares. Mizuho upped their price objective on shares of Baidu from $95.00 to $105.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Benchmark reiterated a “buy” rating and issued a $130.00 price objective on shares of Baidu in a research note on Wednesday, February 19th. Barclays dropped their target price on Baidu from $95.00 to $90.00 and set an “equal weight” rating on the stock in a research report on Monday. Nomura Securities cut Baidu from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Finally, Sanford C. Bernstein reissued a “market perform” rating on shares of Baidu in a report on Saturday, March 8th. Thirteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $110.83.

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.