Traders Buy High Volume of Call Options on Baidu (NASDAQ:BIDU)

Baidu, Inc. (NASDAQ:BIDU) saw unusually large options trading on Wednesday. Stock investors acquired 57,474 call options on the stock. This represents an increase of 35% compared to the average daily volume of 42,590 call options.

Baidu Trading Up 4.7 %

NASDAQ:BIDU traded up $4.23 during trading hours on Wednesday, reaching $93.67. 4,772,386 shares of the company were exchanged, compared to its average volume of 4,135,838. The firm has a market cap of $32.84 billion, a price-to-earnings ratio of 11.51, a PEG ratio of 2.03 and a beta of 0.46. The stock has a 50 day simple moving average of $86.40 and a 200 day simple moving average of $88.57. Baidu has a 52-week low of $77.19 and a 52-week high of $116.25. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.19 and a quick ratio of 2.19.

Analysts Set New Price Targets

Several research analysts have recently commented on BIDU shares. Mizuho lowered their price objective on shares of Baidu from $130.00 to $115.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Barclays boosted their price objective on shares of Baidu from $83.00 to $95.00 and gave the company an “equal weight” rating in a research note on Tuesday. China Renaissance downgraded Baidu from a “buy” rating to a “hold” rating and set a $86.00 target price for the company. in a report on Monday, November 25th. Citigroup dropped their price objective on Baidu from $142.00 to $141.00 and set a “buy” rating for the company in a research note on Friday, November 29th. Finally, Benchmark reiterated a “buy” rating and set a $130.00 target price on shares of Baidu in a research report on Friday, January 24th. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $112.08.

Institutional Trading of Baidu

A number of institutional investors and hedge funds have recently made changes to their positions in BIDU. Rialto Wealth Management LLC purchased a new stake in Baidu during the fourth quarter valued at about $42,000. Sycomore Asset Management acquired a new stake in Baidu during the 4th quarter worth approximately $51,000. Allspring Global Investments Holdings LLC increased its position in Baidu by 630.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock worth $72,000 after purchasing an additional 593 shares in the last quarter. World Investment Advisors LLC purchased a new position in Baidu in the third quarter valued at approximately $72,000. Finally, Grove Bank & Trust lifted its position in Baidu by 21.6% during the third quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock valued at $77,000 after buying an additional 130 shares in the last quarter.

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.