Short Interest in Baidu, Inc. (NASDAQ:BIDU) Decreases By 14.2%

Baidu, Inc. (NASDAQ:BIDU) was the recipient of a significant decrease in short interest during the month of January. As of January 30th, there was short interest totaling 6,914,433 shares, a decrease of 14.2% from the January 15th total of 8,063,030 shares. Based on an average trading volume of 2,907,161 shares, the days-to-cover ratio is currently 2.4 days. Currently, 2.4% of the shares of the stock are sold short. Currently, 2.4% of the shares of the stock are sold short. Based on an average trading volume of 2,907,161 shares, the days-to-cover ratio is currently 2.4 days.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BIDU. Susquehanna restated a “neutral” rating and set a $110.00 price objective on shares of Baidu in a research report on Monday, November 24th. Nomura increased their price target on Baidu from $178.00 to $196.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Morgan Stanley set a $150.00 price target on Baidu in a report on Tuesday, January 20th. UBS Group reaffirmed a “buy” rating on shares of Baidu in a report on Wednesday, February 4th. Finally, Zacks Research upgraded Baidu from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 19th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.05.

Baidu Price Performance

Shares of Baidu stock opened at $137.01 on Tuesday. The stock has a 50 day moving average price of $140.23 and a 200-day moving average price of $123.69. Baidu has a one year low of $74.71 and a one year high of $165.30. The stock has a market cap of $47.33 billion, a price-to-earnings ratio of 45.52 and a beta of 0.32. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 1.91.

Hedge Funds Weigh In On Baidu

Several hedge funds have recently added to or reduced their stakes in BIDU. Vanguard Personalized Indexing Management LLC lifted its stake in Baidu by 15.0% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 5,271 shares of the information services provider’s stock worth $689,000 after purchasing an additional 687 shares during the last quarter. MML Investors Services LLC raised its holdings in shares of Baidu by 127.6% in the fourth quarter. MML Investors Services LLC now owns 4,567 shares of the information services provider’s stock worth $597,000 after buying an additional 2,560 shares during the period. Mariner LLC raised its holdings in shares of Baidu by 0.8% in the fourth quarter. Mariner LLC now owns 198,169 shares of the information services provider’s stock worth $25,894,000 after buying an additional 1,635 shares during the period. Niles Investment Management LLC bought a new stake in shares of Baidu during the 4th quarter worth approximately $3,516,000. Finally, Clear Street Group Inc. purchased a new position in Baidu during the 4th quarter valued at $731,000.

Baidu Company Profile

Baidu, Inc, founded in 2000 and headquartered in Beijing, is a Chinese multinational technology company best known for operating one of China’s leading internet search engines. The company built its business around online search and related advertising services, providing search, content aggregation and targeted ad placements to consumers and marketers across China. Baidu went public on the NASDAQ in 2005 and has since diversified beyond search into a broader technology and AI-focused portfolio.

Core products and services include the Baidu search platform and mobile app, Baidu Maps and Baidu Baike (an online encyclopedia), along with digital content initiatives.