Baidu Sees Unusually Large Options Volume (NASDAQ:BIDU)

Key Points

• Baidu, Inc. (NASDAQ:BIDU) experienced a significant increase in options trading, with 60,334 call options purchased—a 65% rise compared to its average daily volume.
• Various analysts updated their ratings and price targets for Baidu, with Citigroup raising its target to $140.00, while Jefferies decreased it to $110.00, among other changes.
• As of Tuesday, Baidu's shares traded down 1.2%, with a current market cap of $30.77 billion and a consensus price target of $105.09.

Baidu, Inc. (NASDAQ:BIDU - Get Free Report) was the recipient of some unusual options trading activity on Tuesday. Stock traders bought 60,334 call options on the stock. Thisisanincreaseofapproximately65% compared to the typical daily volume of 36,513 call options.

Analyst Ratings Changes

Several equities analysts have recently weighed in on BIDU shares. Citigroup raised their price objective on shares of Baidu from $138.00 to $140.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Benchmark reduced their price target on shares of Baidu from $130.00 to $120.00 and set a "buy" rating for the company in a research report on Thursday, May 22nd. Barclays reduced their price target on shares of Baidu from $84.00 to $81.00 and set an "equal weight" rating for the company in a research report on Friday, July 18th. Macquarie reiterated a "neutral" rating on shares of Baidu in a research note on Wednesday, May 21st. Finally, Jefferies Financial Group dropped their price target on shares of Baidu from $120.00 to $110.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Seven analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat.com, Baidu currently has a consensus rating of "Hold" and a consensus price target of $105.09.

Baidu Trading Down 1.2%

Shares of NASDAQ:BIDU traded down $1.06 during trading on Tuesday, hitting $89.07. 3,577,025 shares of the company's stock were exchanged, compared to its average volume of 4,368,748. Baidu has a 1-year low of $74.71 and a 1-year high of $116.25. The firm has a 50-day moving average price of $87.67 and a two-hundred day moving average price of $88.45. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.27. The firm has a market cap of $30.77 billion, a P/E ratio of 8.84 and a beta of 0.34.

Institutional Trading of Baidu

Hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC grew its stake in shares of Baidu by 0.7% in the first quarter. International Assets Investment Management LLC now owns 16,100 shares of the information services provider's stock valued at $1,482,000 after buying an additional 114 shares in the last quarter. Parallel Advisors LLC boosted its position in Baidu by 17.0% during the second quarter. Parallel Advisors LLC now owns 935 shares of the information services provider's stock worth $80,000 after purchasing an additional 136 shares during the period. Redwood Wealth Management Group LLC boosted its position in shares of Baidu by 3.8% in the second quarter. Redwood Wealth Management Group LLC now owns 4,117 shares of the information services provider's stock valued at $353,000 after acquiring an additional 150 shares during the period. UMB Bank n.a. boosted its position in shares of Baidu by 80.3% in the first quarter. UMB Bank n.a. now owns 402 shares of the information services provider's stock valued at $37,000 after acquiring an additional 179 shares during the period. Finally, CX Institutional boosted its position in shares of Baidu by 34.1% in the second quarter. CX Institutional now owns 715 shares of the information services provider's stock valued at $61,000 after acquiring an additional 182 shares during the period.

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.

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