Stock Traders Buy Large Volume of Baidu Call Options (NASDAQ:BIDU)

Baidu, Inc. (NASDAQ:BIDU) saw some unusual options trading on Wednesday. Traders bought 65,526 call options on the stock. This is an increase of approximately 23% compared to the typical daily volume of 53,068 call options.

Hedge Funds Weigh In On Baidu

Several institutional investors have recently added to or reduced their stakes in BIDU. Crewe Advisors LLC bought a new position in Baidu in the 1st quarter worth approximately $31,000. iA Global Asset Management Inc. bought a new stake in shares of Baidu in the second quarter worth about $52,000. Silicon Valley Capital Partners purchased a new position in Baidu during the 1st quarter valued at about $53,000. Accent Capital Management LLC bought a new position in Baidu during the 4th quarter valued at approximately $66,000. Finally, Denver PWM LLC purchased a new stake in Baidu in the 2nd quarter worth approximately $67,000.

Analyst Ratings Changes

BIDU has been the subject of a number of recent research reports. Hsbc Global Res downgraded shares of Baidu from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Benchmark lowered their price objective on Baidu from $180.00 to $135.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Bank of America reduced their price objective on shares of Baidu from $128.00 to $117.00 and set a “buy” rating on the stock in a research note on Friday, August 23rd. Sanford C. Bernstein lowered Baidu from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $130.00 to $97.00 in a research note on Friday, August 23rd. Finally, Citigroup lowered their price objective on shares of Baidu from $170.00 to $155.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Seven 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 a consensus rating of “Moderate Buy” and an average price target of $132.13.

Baidu Price Performance

Shares of NASDAQ:BIDU opened at $106.01 on Wednesday. Baidu has a 1-year low of $79.68 and a 1-year high of $135.85. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.19. The stock has a market cap of $37.17 billion, a PE ratio of 14.19 and a beta of 0.49. The stock’s fifty day simple moving average is $89.31 and its two-hundred day simple moving average is $95.32.

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.