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

Baidu, Inc. (NASDAQ:BIDU) saw a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 6,370,000 shares, an increase of 10.2% from the May 31st total of 5,780,000 shares. Based on an average trading volume of 3,290,000 shares, the short-interest ratio is currently 1.9 days.

Institutional Trading of Baidu

A number of hedge funds have recently bought and sold shares of BIDU. Crossmark Global Holdings Inc. grew its position in Baidu by 0.3% during the fourth quarter. Crossmark Global Holdings Inc. now owns 29,375 shares of the information services provider’s stock worth $3,498,000 after buying an additional 99 shares in the last quarter. Kingsview Wealth Management LLC increased its position in shares of Baidu by 5.8% during the fourth quarter. Kingsview Wealth Management LLC now owns 2,005 shares of the information services provider’s stock valued at $239,000 after purchasing an additional 110 shares during the period. Beacon Financial Group raised its stake in shares of Baidu by 7.2% in the 4th quarter. Beacon Financial Group now owns 1,894 shares of the information services provider’s stock valued at $226,000 after buying an additional 128 shares in the last quarter. Ignite Planners LLC lifted its holdings in shares of Baidu by 3.8% during the 1st quarter. Ignite Planners LLC now owns 3,791 shares of the information services provider’s stock worth $411,000 after acquiring an additional 139 shares during the period. Finally, Advisors Asset Management Inc. boosted its position in shares of Baidu by 8.2% during the 1st quarter. Advisors Asset Management Inc. now owns 2,583 shares of the information services provider’s stock valued at $272,000 after acquiring an additional 196 shares in the last quarter.

Wall Street Analysts Forecast Growth

BIDU has been the topic of a number of research reports. Macquarie lowered shares of Baidu from a “strong-buy” rating to a “hold” rating in a report on Friday, May 17th. Loop Capital cut their target price on shares of Baidu from $155.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, June 21st. StockNews.com cut Baidu from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. Benchmark reissued a “buy” rating and issued a $180.00 target price on shares of Baidu in a report on Friday, May 17th. Finally, Susquehanna cut their target price on shares of Baidu from $150.00 to $135.00 and set a “positive” rating for the company in a research note on Friday, May 24th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.64.

Baidu Stock Down 0.3 %

Shares of BIDU stock opened at $86.21 on Tuesday. The stock has a 50 day moving average of $99.92 and a 200-day moving average of $104.48. The firm has a market cap of $30.23 billion, a PE ratio of 11.54 and a beta of 0.49. The company has a quick ratio of 2.79, a current ratio of 2.79 and a debt-to-equity ratio of 0.25. Baidu has a 12 month low of $85.93 and a 12 month high of $156.98.

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.