Baidu Sees Unusually High Options Volume (NASDAQ:BIDU)

Baidu, Inc. (NASDAQ:BIDU) was the recipient of unusually large options trading on Tuesday. Stock traders bought 66,388 call options on the stock. This represents an increase of approximately 34% compared to the average volume of 49,685 call options.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Bank of America decreased their target price on shares of Baidu from $128.00 to $117.00 and set a “buy” rating on the stock in a research note on Friday, August 23rd. StockNews.com cut shares of Baidu from a “buy” rating to a “hold” rating in a research report on Tuesday, July 16th. Loop Capital cut their target price on Baidu from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. Benchmark lowered their price target on Baidu from $180.00 to $135.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Finally, Sanford C. Bernstein downgraded shares of Baidu from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $130.00 to $97.00 in a research report on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $132.13.

Institutional Investors Weigh In On Baidu

A number of institutional investors have recently bought and sold shares of BIDU. Primecap Management Co. CA lifted its holdings 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 worth $1,033,238,000 after acquiring an additional 1,753,577 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Baidu by 49.7% in 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 buying an additional 338,110 shares during the period. Hsbc Holdings PLC increased its stake in shares of Baidu by 139.3% during the fourth quarter. Hsbc Holdings PLC now owns 536,748 shares of the information services provider’s stock valued at $63,907,000 after buying an additional 312,467 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in Baidu by 103.1% in the second quarter. DekaBank Deutsche Girozentrale now owns 582,475 shares of the information services provider’s stock worth $51,192,000 after acquiring an additional 295,700 shares during the period. Finally, XY Capital Ltd purchased a new position in Baidu during the 2nd quarter valued at about $23,880,000.

Baidu Stock Performance

Shares of Baidu stock traded up $5.66 on Tuesday, hitting $93.94. 5,276,257 shares of the company’s stock were exchanged, compared to its average volume of 3,333,412. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.32 and a current ratio of 2.32. The stock has a market capitalization of $32.94 billion, a PE ratio of 12.55 and a beta of 0.48. Baidu has a 1 year low of $79.68 and a 1 year high of $136.53. The company has a 50-day simple moving average of $86.18 and a 200-day simple moving average of $95.14.

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.