Baidu Inc (NASDAQ:BIDU) saw a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 6,760,000 shares, a decline of 15.6% from the August 30th total of 8,010,000 shares. Based on an average trading volume of 3,830,000 shares, the days-to-cover ratio is presently 1.8 days. Currently, 2.5% of the shares of the company are sold short.

Baidu stock traded up $0.80 during midday trading on Monday, hitting $105.46. The company’s stock had a trading volume of 1,612,205 shares, compared to its average volume of 3,713,049. The company has a quick ratio of 2.61, a current ratio of 2.61 and a debt-to-equity ratio of 0.32. The stock’s 50-day moving average price is $104.51 and its 200-day moving average price is $123.85. Baidu has a 12 month low of $93.39 and a 12 month high of $206.25. The company has a market capitalization of $36.28 billion, a PE ratio of 13.52, a price-to-earnings-growth ratio of 13.61 and a beta of 1.74.

A number of institutional investors have recently modified their holdings of BIDU. Griffin Asset Management Inc. bought a new stake in Baidu in the second quarter worth about $27,000. Motco acquired a new stake in Baidu during the 2nd quarter worth about $28,000. Tower Research Capital LLC TRC acquired a new stake in Baidu during the 2nd quarter worth about $31,000. Westside Investment Management Inc. acquired a new stake in Baidu during the 2nd quarter worth about $33,000. Finally, Pinnacle Bank raised its holdings in Baidu by 61.7% during the 3rd quarter. Pinnacle Bank now owns 333 shares of the information services provider’s stock worth $34,000 after buying an additional 127 shares during the period. Hedge funds and other institutional investors own 56.75% of the company’s stock.

Several brokerages have recently issued reports on BIDU. KeyCorp reissued an “overweight” rating and set a $148.00 price target (down previously from $160.00) on shares of Baidu in a report on Friday, August 9th. They noted that the move was a valuation call. JPMorgan Chase & Co. began coverage on shares of Baidu in a report on Wednesday, July 10th. They issued an “overweight” rating for the company. Benchmark reduced their price objective on shares of Baidu to $165.00 and set a “buy” rating for the company in a report on Tuesday, August 20th. Macquarie set a $131.00 price objective on shares of Baidu and gave the stock a “hold” rating in a report on Thursday, July 4th. Finally, BidaskClub downgraded shares of Baidu from a “hold” rating to a “sell” rating in a report on Friday, September 20th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the stock. Baidu presently has an average rating of “Hold” and a consensus target price of $151.22.

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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