Baidu Sees Unusually High Options Volume (NASDAQ:BIDU)

Baidu, Inc. (NASDAQ:BIDU) saw unusually large options trading on Tuesday. Stock traders acquired 66,388 call options on the company. This represents an increase of approximately 34% compared to the average daily volume of 49,685 call options.

Baidu Stock Up 6.4 %

Shares of BIDU traded up $5.66 during trading hours on Tuesday, reaching $93.94. The stock had a trading volume of 5,276,257 shares, compared to its average volume of 3,333,412. The company has a market capitalization of $32.94 billion, a price-to-earnings ratio of 12.55 and a beta of 0.48. The firm has a 50-day simple moving average of $86.18 and a 200 day simple moving average of $95.14. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.19. Baidu has a 12 month low of $79.68 and a 12 month high of $136.53.

Wall Street Analysts Forecast Growth

BIDU has been the topic of several recent research reports. Barclays reduced their price target on Baidu from $125.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. StockNews.com lowered Baidu from a “buy” rating to a “hold” rating in a research report on Tuesday, July 16th. Bank of America cut their price target on shares of Baidu from $128.00 to $117.00 and set a “buy” rating on the stock in a research report on Friday, August 23rd. HSBC cut Baidu from a “buy” rating to a “hold” rating and set a $100.00 target price for the company. in a research note on Tuesday. Finally, Citigroup reduced their price objective on shares of Baidu from $170.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $132.13.

Institutional Investors Weigh In On Baidu

Institutional investors have recently added to or reduced their stakes in the company. Crewe Advisors LLC purchased a new position in Baidu in the 1st quarter valued at approximately $31,000. iA Global Asset Management Inc. bought a new stake in shares of Baidu during the second quarter valued at about $52,000. Silicon Valley Capital Partners purchased a new stake in shares of Baidu in the first quarter worth about $53,000. Accent Capital Management LLC bought a new stake in Baidu during the fourth quarter valued at $66,000. Finally, Denver PWM LLC purchased a new stake in Baidu in the second quarter valued at approximately $67,000.

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.