Short Interest in Baidu, Inc. (NASDAQ:BIDU) Expands By 25.6%

Baidu, Inc. (NASDAQ:BIDU) was the recipient of a significant increase in short interest in March. As of March 31st, there was short interest totalling 9,180,000 shares, an increase of 25.6% from the March 15th total of 7,310,000 shares. Based on an average daily volume of 5,760,000 shares, the days-to-cover ratio is presently 1.6 days. Currently, 3.3% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Several research firms have commented on BIDU. Daiwa Capital Markets reiterated an “outperform” rating on shares of Baidu in a research report on Tuesday, February 18th. Sanford C. Bernstein restated a “market perform” rating on shares of Baidu in a research report on Saturday, March 8th. StockNews.com cut Baidu from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Nomura downgraded Baidu from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 19th. Finally, Barclays increased their target price on shares of Baidu from $83.00 to $95.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 11th. Thirteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $111.25.

Hedge Funds Weigh In On Baidu

A number of large investors have recently added to or reduced their stakes in the company. UMB Bank n.a. grew its position in shares of Baidu by 80.3% in the 1st quarter. UMB Bank n.a. now owns 402 shares of the information services provider’s stock worth $37,000 after buying an additional 179 shares during the last quarter. Rialto Wealth Management LLC purchased a new position in Baidu in the fourth quarter worth $42,000. CX Institutional acquired a new position in shares of Baidu during the first quarter worth $49,000. Sycomore Asset Management purchased a new stake in shares of Baidu during the 4th quarter valued at $51,000. Finally, GeoWealth Management LLC grew its stake in Baidu by 88.5% during the 4th quarter. GeoWealth Management LLC now owns 656 shares of the information services provider’s stock worth $55,000 after buying an additional 308 shares during the last quarter.

Baidu Stock Up 0.1 %

Shares of NASDAQ:BIDU traded up $0.09 on Friday, reaching $82.59. The company had a trading volume of 2,285,728 shares, compared to its average volume of 4,190,037. The company has a current ratio of 2.09, a quick ratio of 2.19 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $28.96 billion, a PE ratio of 9.01, a PEG ratio of 2.96 and a beta of 0.33. Baidu has a 52-week low of $74.71 and a 52-week high of $116.25. The firm’s 50 day simple moving average is $89.95 and its 200-day simple moving average is $89.25.

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.