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

Key Points

• Baidu, Inc. experienced a significant drop in short interest of 19.9% in August, falling from 8,180,000 shares to 6,550,000 shares.
• Various institutional investors have recently adjusted their positions in Baidu, with notable increases from Creekmur Asset Management and UMB Bank, among others.
• Wall Street analysts have mixed opinions on Baidu's stock, with several maintaining a "buy" rating while others have lowered their price targets, resulting in an average target price of $104.00.

Baidu, Inc. (NASDAQ:BIDU - Get Free Report) saw a significant decline in short interest in the month of August. As of August 15th, there was short interest totaling 6,550,000 shares, adeclineof19.9% 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. Approximately2.3% of the company's shares are short sold. Approximately2.3% of the company's shares are short sold. Based on an average daily volume of 3,510,000 shares, the days-to-cover ratio is currently 1.9 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Creekmur Asset Management LLC acquired a new position in shares of Baidu during the 1st quarter worth about $29,000. Assetmark Inc. boosted its position in shares of Baidu by 143.3% during the 1st quarter. Assetmark Inc. now owns 326 shares of the information services provider's stock worth $30,000 after acquiring an additional 192 shares in the last quarter. Binnacle Investments Inc acquired a new position in shares of Baidu during the 2nd quarter worth about $29,000. UMB Bank n.a. boosted its position in shares of Baidu by 80.3% during the 1st quarter. UMB Bank n.a. now owns 402 shares of the information services provider's stock worth $37,000 after acquiring an additional 179 shares in the last quarter. Finally, Winthrop Capital Management LLC acquired a new position in shares of Baidu during the 2nd quarter worth about $39,000.

Wall Street Analyst Weigh In

BIDU has been the subject of a number of research reports. Jefferies Financial Group dropped their price objective on Baidu from $120.00 to $110.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Susquehanna lifted their price objective on Baidu from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Tuesday, September 2nd. Benchmark dropped their price objective on Baidu from $120.00 to $115.00 and set a "buy" rating for the company in a research note on Thursday, August 21st. Citigroup lifted their price objective on Baidu from $138.00 to $140.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Finally, Wall Street Zen cut Baidu from a "hold" rating to a "sell" rating in a research note on Friday, August 22nd. Five research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $104.00.

Baidu Stock Up 1.6%

BIDU traded up $1.71 on Tuesday, hitting $110.36. 1,378,387 shares of the company were exchanged, compared to its average volume of 4,500,370. The firm has a 50-day moving average price of $90.04 and a two-hundred day moving average price of $88.70. The company has a market cap of $38.12 billion, a price-to-earnings ratio of 10.16 and a beta of 0.34. Baidu has a twelve month low of $74.71 and a twelve month high of $116.25. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.19.

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.

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