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

Baidu, Inc. (NASDAQ:BIDU) was the recipient of some unusual options trading activity on Wednesday. Investors purchased 57,474 call options on the stock. This represents an increase of 35% compared to the typical daily volume of 42,590 call options.

Baidu Price Performance

Shares of Baidu stock traded up $4.23 during trading hours on Wednesday, reaching $93.67. The stock had a trading volume of 4,772,386 shares, compared to its average volume of 4,135,838. Baidu has a twelve month low of $77.19 and a twelve month high of $116.25. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $32.84 billion, a PE ratio of 11.51, a PEG ratio of 2.03 and a beta of 0.46. The stock’s 50 day moving average is $86.40 and its 200 day moving average is $88.57.

Institutional Trading of Baidu

A number of institutional investors and hedge funds have recently made changes to their positions in BIDU. Sanctuary Advisors LLC acquired a new position in Baidu during the second quarter worth $601,000. Grove Bank & Trust boosted its holdings in Baidu by 21.6% in the 3rd quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock worth $77,000 after buying an additional 130 shares during the last quarter. Creative Planning increased its stake in Baidu by 2.8% during the 3rd quarter. Creative Planning now owns 49,440 shares of the information services provider’s stock worth $5,206,000 after buying an additional 1,362 shares in the last quarter. Naviter Wealth LLC raised its holdings in shares of Baidu by 17.0% during the third quarter. Naviter Wealth LLC now owns 8,660 shares of the information services provider’s stock valued at $912,000 after acquiring an additional 1,260 shares during the last quarter. Finally, Bleakley Financial Group LLC lifted its position in shares of Baidu by 51.3% in the third quarter. Bleakley Financial Group LLC now owns 4,038 shares of the information services provider’s stock valued at $425,000 after acquiring an additional 1,369 shares in the last quarter.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Citigroup dropped their price target on Baidu from $142.00 to $141.00 and set a “buy” rating for the company in a research report on Friday, November 29th. StockNews.com raised shares of Baidu from a “hold” rating to a “buy” rating in a research note on Friday, December 27th. JPMorgan Chase & Co. cut shares of Baidu from an “overweight” rating to a “neutral” rating in a research report on Wednesday, November 27th. Susquehanna cut shares of Baidu from a “positive” rating to a “neutral” rating and dropped their price target for the stock from $105.00 to $85.00 in a research note on Monday, November 25th. Finally, China Renaissance downgraded Baidu from a “buy” rating to a “hold” rating and set a $86.00 price objective on the stock. in a research report on Monday, November 25th. Ten investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $112.08.

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.