Short Interest in Baidu Inc (NASDAQ:BIDU) Drops By 15.9%

Baidu Inc (NASDAQ:BIDU) was the recipient of a large decline in short interest in the month of November. As of November 29th, there was short interest totalling 5,140,000 shares, a decline of 15.9% from the November 14th total of 6,110,000 shares. Based on an average daily trading volume, of 3,620,000 shares, the short-interest ratio is currently 1.4 days. Currently, 1.9% of the company’s shares are short sold.

Several brokerages recently issued reports on BIDU. Jefferies Financial Group set a $133.00 price objective on shares of Baidu and gave the company a “buy” rating in a report on Friday, October 18th. Oppenheimer upgraded shares of Baidu from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $124.56 to $145.00 in a report on Monday, November 11th. Benchmark reduced their price objective on shares of Baidu to $165.00 and set a “buy” rating on the stock in a report on Tuesday, August 20th. Daiwa Capital Markets upgraded shares of Baidu from a “hold” rating to an “outperform” rating and boosted their price objective for the company from $105.00 to $124.00 in a report on Friday, November 8th. Finally, HSBC boosted their price objective on shares of Baidu from $137.00 to $141.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Baidu currently has a consensus rating of “Buy” and an average target price of $146.00.

A number of large investors have recently modified their holdings of BIDU. Tweedy Browne Co LLC grew its position in shares of Baidu by 64.8% during the second quarter. Tweedy Browne Co LLC now owns 2,367,889 shares of the information services provider’s stock worth $277,895,000 after buying an additional 930,874 shares in the last quarter. Prudential PLC grew its position in shares of Baidu by 44.5% during the second quarter. Prudential PLC now owns 2,216,196 shares of the information services provider’s stock worth $259,933,000 after buying an additional 681,970 shares in the last quarter. Nuveen Asset Management LLC grew its position in shares of Baidu by 1,299.7% during the second quarter. Nuveen Asset Management LLC now owns 677,245 shares of the information services provider’s stock worth $79,482,000 after buying an additional 628,859 shares in the last quarter. Bank of Montreal Can grew its position in shares of Baidu by 67.6% during the second quarter. Bank of Montreal Can now owns 1,328,677 shares of the information services provider’s stock worth $155,933,000 after buying an additional 535,992 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its position in shares of Baidu by 99.3% during the second quarter. Canada Pension Plan Investment Board now owns 1,001,898 shares of the information services provider’s stock worth $117,583,000 after buying an additional 499,128 shares in the last quarter. Institutional investors own 52.15% of the company’s stock.

NASDAQ:BIDU traded down $1.40 on Friday, reaching $119.14. 4,223,708 shares of the company’s stock were exchanged, compared to its average volume of 2,644,319. The company has a quick ratio of 2.59, a current ratio of 2.59 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $41.62 billion, a price-to-earnings ratio of 15.27, a price-to-earnings-growth ratio of 15.31 and a beta of 1.77. The business has a fifty day moving average of $114.36 and a 200-day moving average of $109.80. Baidu has a 52-week low of $93.39 and a 52-week high of $186.22.

About Baidu

Baidu, Inc provides Internet search services in China and internationally. It operates through two segments, Baidu Core and iQIYI. The Baidu Core segment offers products for uses, including Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services through its other properties and Union partners; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Haokan, a short video app; and Quanmin, a flash video app for users to create and share short videos.

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