Baidu, Inc. (NASDAQ:BIDU) Short Interest Down 19.9% in August

Baidu, Inc. (NASDAQ:BIDU) was the target of a large decline in short interest in the month of August. As of August 15th, there was short interest totaling 6,550,000 shares, a decline of 19.9% from the July 31st total of 8,180,000 shares. Based on an average daily volume of 3,510,000 shares, the days-to-cover ratio is currently 1.9 days. Currently, 2.3% of the company’s shares are sold short. Currently, 2.3% of the company’s shares are sold short. Based on an average daily volume of 3,510,000 shares, the days-to-cover ratio is currently 1.9 days.

Baidu Stock Performance

Shares of BIDU opened at $107.60 on Thursday. The business’s 50 day moving average is $90.91 and its two-hundred day moving average is $88.97. Baidu has a 52-week low of $74.71 and a 52-week high of $116.25. The firm has a market cap of $37.17 billion, a price-to-earnings ratio of 9.92 and a beta of 0.34. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.19.

Institutional Investors Weigh In On Baidu

Institutional investors and hedge funds have recently made changes to their positions in the company. FNY Investment Advisers LLC acquired a new stake in shares of Baidu during the 1st quarter valued at approximately $922,000. Janney Montgomery Scott LLC acquired a new stake in shares of Baidu during the 1st quarter valued at approximately $274,000. Ameriprise Financial Inc. raised its position in shares of Baidu by 7.5% during the 4th quarter. Ameriprise Financial Inc. now owns 45,949 shares of the information services provider’s stock valued at $3,874,000 after acquiring an additional 3,200 shares in the last quarter. Nuveen Asset Management LLC raised its position in shares of Baidu by 19.4% during the 4th quarter. Nuveen Asset Management LLC now owns 166,858 shares of the information services provider’s stock valued at $14,068,000 after acquiring an additional 27,057 shares in the last quarter. Finally, CX Institutional acquired a new stake in shares of Baidu during the 1st quarter valued at approximately $49,000.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Jefferies Financial Group decreased their price target on Baidu from $120.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, July 16th. Benchmark decreased their price target on Baidu from $120.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, August 21st. Citigroup upped their price target on Baidu from $138.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, July 17th. Wall Street Zen cut Baidu from a “hold” rating to a “sell” rating in a report on Friday, August 22nd. Finally, Barclays decreased their price target on Baidu from $84.00 to $81.00 and set an “equal weight” rating for the company in a report on Friday, July 18th. Five analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $104.00.

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.