Baidu Target of Unusually High Options Trading (NASDAQ:BIDU)

Baidu, Inc. (NASDAQ:BIDU) saw unusually large options trading on Wednesday. Investors bought 65,526 call options on the stock. This represents an increase of 23% compared to the average daily volume of 53,068 call options.

Baidu Stock Performance

Baidu stock opened at $104.06 on Thursday. Baidu has a 1 year low of $79.68 and a 1 year high of $135.85. The company’s 50-day moving average is $89.66 and its two-hundred day moving average is $95.35. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.19. The company has a market cap of $36.49 billion, a PE ratio of 14.19 and a beta of 0.49.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. HSBC lowered shares of Baidu from a “buy” rating to a “hold” rating and set a $100.00 price objective for the company. in a report on Tuesday, September 24th. Susquehanna decreased their target price on shares of Baidu from $135.00 to $105.00 and set a “positive” rating for the company in a research report on Thursday, September 5th. Bank of America decreased their target price on shares of Baidu from $128.00 to $117.00 and set a “buy” rating for the company in a research report on Friday, August 23rd. Dbs Bank lowered Baidu from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 3rd. Finally, Barclays reduced their price objective on Baidu from $125.00 to $115.00 and set an “overweight” rating for the company in a research note on Friday, August 23rd. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Baidu currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.13.

Hedge Funds Weigh In On Baidu

Several institutional investors have recently modified their holdings of BIDU. Primecap Management Co. CA grew its position in shares of Baidu by 17.2% in the 2nd quarter. Primecap Management Co. CA now owns 11,947,706 shares of the information services provider’s stock valued at $1,033,238,000 after purchasing an additional 1,753,577 shares during the period. Federated Hermes Inc. raised its stake in shares of Baidu by 3.7% in the 2nd quarter. Federated Hermes Inc. now owns 1,884,556 shares of the information services provider’s stock valued at $162,976,000 after purchasing an additional 67,331 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Baidu by 1.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,344,309 shares of the information services provider’s stock worth $116,263,000 after buying an additional 14,878 shares during the period. ARGA Investment Management LP raised its position in Baidu by 6.5% in the 1st quarter. ARGA Investment Management LP now owns 1,022,883 shares of the information services provider’s stock valued at $107,689,000 after buying an additional 62,830 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in Baidu by 49.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,018,685 shares of the information services provider’s stock worth $107,247,000 after acquiring an additional 338,110 shares during the last quarter.

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.