Alibaba Group Holding Limited (NYSE:BABA) sees surge in short-term interest
Alibaba Group Holding Limited (NYSE: BABA – Get a rating) was the target of strong short-term interest growth during August. As of August 31, there was short interest totaling 53,590,000 shares, up 9.5% from the total of 48,940,000 shares as of August 15. Based on an average daily volume of 24,620,000 shares, the short interest rate is currently 2.2 days. Currently, 2.0% of the company’s shares are sold short.
Alibaba Group grows 1.4%
Shares of BABA rose $1.23 during Monday trading hours, hitting $87.66. The stock recorded a trading volume of 12,631,917 shares, compared to an average volume of 27,608,025 shares. The company has a debt ratio of 0.13, a quick ratio of 1.72 and a current ratio of 1.72. The company has a market capitalization of $232.14 billion, a P/E ratio of 48.02, a P/E/G ratio of 1.45 and a beta of 0.55. The company’s fifty-day simple moving average is $95.58 and its 200-day simple moving average is $98.87. Alibaba Group has a 12-month low of $73.28 and a 12-month high of $182.09.
Alibaba Group (NYSE: BABA – Get a rating) last reported results on Thursday, August 4. The specialty retailer reported earnings per share of $1.40 for the quarter, beating the consensus estimate of $0.83 by $0.57. The company posted revenue of $30.69 billion for the quarter, versus analyst estimates of $31.15 billion. Alibaba Group had a return on equity of 10.03% and a net margin of 3.69%. Equity research analysts expect Alibaba Group to post EPS of 6.32 for the current fiscal year.
Institutional entries and exits
Major investors have recently changed their positions in the company. Diversified Trust Co raised its position in the Alibaba Group by 3.5% in the second quarter. Diversified Trust Co now owns 2,758 shares of the specialty retailer valued at $314,000 after buying 93 additional shares during the period. Savant Capital LLC increased its position in the Alibaba Group by 4.3% in the second quarter. Savant Capital LLC now owns 2,377 shares of the specialty retailer valued at $270,000 after purchasing 99 additional shares during the period. Global Wealth Management Investment Advisory Inc. raised its position in the Alibaba Group by 74.1% in the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 235 shares of the specialty retailer valued at $28,000 after purchasing an additional 100 shares during the period. Arlington Partners LLC increased its stake in Alibaba Group shares by 35.1% in the first quarter. Arlington Partners LLC now owns 385 shares of the specialty retailer valued at $42,000 after acquiring 100 additional shares in the last quarter. Finally, Clarus Group Inc. increased its stake in Alibaba Group shares by 5.0% during the second quarter. Clarus Group Inc. now owns 2,085 shares of the specialty retailer valued at $237,000 after acquiring an additional 100 shares in the last quarter. 14.81% of the shares are held by hedge funds and other institutional investors.
Changes to analyst ratings
Several analysts have weighed in on the company recently. Barclays cut its price target on Alibaba Group from $170.00 to $161.00 and set an “overweight” rating for the company in a Friday, May 27 report. Bank of America cut its price target on Alibaba Group from $162.00 to $155.00 and set a “buy” rating for the company in a Monday, Aug. 1, report. Robert W. Baird cut his price target on Alibaba Group from $160.00 to $144.00 and set an “outperform” rating for the company in a Monday, May 23 report. Benchmark raised its price target on Alibaba Group from $200.00 to $205.00 and gave the company a “buy” rating in a Wednesday, July 6 research note. Finally, HSBC cut its price target on Alibaba Group from $146.00 to $141.00 and set a “buy” rating for the company in a Tuesday, July 5 research note. Three research analysts gave the stock a hold rating and twenty gave the company a buy rating. According to data from MarketBeat.com, Alibaba Group currently has an average rating of “Moderate Buy” and an average price target of $166.53.
Alibaba Group Company Profile
Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers and other businesses engage with their users and customers in the People’s Republic of China and internationally. The Company operates through seven segments: China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, and Innovation Initiatives and Others.
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