Stock Traders Purchase High Volume of Baidu Call Options (NASDAQ:BIDU)

Baidu, Inc. (NASDAQ:BIDU) was the target of unusually large options trading on Wednesday. Stock traders purchased 38,696 call options on the stock. This is an increase of 71% compared to the average daily volume of 22,657 call options.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BIDU. TheStreet raised Baidu from a “c+” rating to a “b-” rating in a research report on Monday, July 31st. Morgan Stanley upgraded shares of Baidu from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $160.00 to $190.00 in a report on Tuesday, June 20th. Mizuho reaffirmed a “buy” rating and issued a $170.00 target price on shares of Baidu in a research report on Wednesday, August 23rd. JPMorgan Chase & Co. upped their price objective on shares of Baidu from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, August 25th. Finally, Loop Capital cut their target price on Baidu from $215.00 to $190.00 and set a “buy” rating on the stock in a research report on Tuesday. One research analyst has rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $187.06.

Baidu Stock Up 3.1 %

Shares of NASDAQ:BIDU opened at $145.08 on Thursday. The company has a market cap of $50.13 billion, a price-to-earnings ratio of 23.71, a PEG ratio of 0.33 and a beta of 0.71. Baidu has a fifty-two week low of $73.58 and a fifty-two week high of $160.88. The firm’s 50-day simple moving average is $142.03 and its 200-day simple moving average is $137.98. The company has a quick ratio of 2.84, a current ratio of 2.84 and a debt-to-equity ratio of 0.25.

Institutional Investors Weigh In On Baidu

A number of institutional investors have recently added to or reduced their stakes in the business. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of Baidu by 134.8% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 162,243 shares of the information services provider’s stock worth $21,586,000 after purchasing an additional 93,158 shares in the last quarter. Natixis Advisors L.P. acquired a new stake in shares of Baidu in the first quarter valued at about $1,343,000. Cibc World Market Inc. boosted its holdings in Baidu by 25.8% during the first quarter. Cibc World Market Inc. now owns 5,499 shares of the information services provider’s stock worth $728,000 after buying an additional 1,127 shares in the last quarter. Ergoteles LLC acquired a new position in Baidu during the first quarter worth about $5,593,000. Finally, Mackenzie Financial Corp increased its holdings in Baidu by 9.0% in the first quarter. Mackenzie Financial Corp now owns 139,904 shares of the information services provider’s stock valued at $18,509,000 after buying an additional 11,518 shares in the last quarter. Hedge funds and other institutional investors own 21.22% of the company’s stock.

Baidu Company Profile

Baidu, Inc offers internet search services in China. It operates through Baidu Core and iQIYI segments. 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.