Alibaba Group Holding Ltd. (BABA) Short Interest Up 2.6% in August

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Alibaba Group Holding Ltd. (NYSE:BABA) saw a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 108,449,182 shares, an increase of 2.6% from the August 15th total of 105,665,439 shares. Based on an average daily volume of 15,747,559 shares, the short-interest ratio is presently 6.9 days. Approximately 4.4% of the shares of the company are sold short.
Several research firms have weighed in on BABA. Cantor Fitzgerald reiterated a “buy” rating on shares of Alibaba Group Holding in a research report on Friday, September 9th. Citigroup Inc. increased their price target on shares of Alibaba Group Holding from $104.00 to $112.00 and gave the stock a “buy” rating in a research report on Saturday, August 13th. Robert W. Baird reiterated an “outperform” rating and issued a $104.00 price target (up from $94.00) on shares of Alibaba Group Holding in a research report on Saturday, August 13th. Needham & Company LLC reiterated a “buy” rating and issued a $105.00 price target (up from $95.00) on shares of Alibaba Group Holding in a research report on Saturday, August 13th. Finally, Vetr upgraded shares of Alibaba Group Holding from a “sell” rating to a “hold” rating and set a $95.74 price target on the stock in a research report on Monday, August 15th. Three equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $105.71.
Alibaba Group Holding (NYSE:BABA) opened at 104.64 on Friday. Alibaba Group Holding has a 12 month low of $57.20 and a 12 month high of $105.39. The stock has a market cap of $258.77 billion, a P/E ratio of 37.03 and a beta of 2.97. The stock has a 50 day moving average of $92.98 and a 200-day moving average of $81.69.

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Alibaba Group Holding (NYSE:BABA) last announced its quarterly earnings data on Thursday, August 11th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.11. Alibaba Group Holding had a net margin of 42.95% and a return on equity of 12.31%. The firm earned $4.84 billion during the quarter, compared to analyst estimates of $4.57 billion. During the same quarter in the prior year, the firm posted $0.59 earnings per share. On average, equities analysts forecast that Alibaba Group Holding will post $3.29 EPS for the current fiscal year.
Several large investors have recently made changes to their positions in BABA. Cornerstone Advisors Inc. raised its stake in shares of Alibaba Group Holding by 2.5% in the second quarter. Cornerstone Advisors Inc. now owns 1,594 shares of the company’s stock worth $127,000 after buying an additional 39 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its position in Alibaba Group Holding by 1.3% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,407 shares of the company’s stock worth $191,000 after buying an additional 31 shares during the last quarter. Pinnacle Financial Partners Inc. bought a new position in Alibaba Group Holding during the second quarter worth approximately $201,000. Tokio Marine Asset Management Co. Ltd. bought a new position in Alibaba Group Holding during the second quarter worth approximately $207,000. Finally, United Asset Strategies Inc. bought a new position in Alibaba Group Holding during the second quarter worth approximately $210,000. 29.00% of the stock is owned by hedge funds and other institutional investors.
About Alibaba Group Holding
Alibaba Group Holding Limited is a holding company. The Company is principally engaged in online and mobile commerce through products, services and technology. The Company provides retail and wholesale marketplaces available through both personal computer and mobile interfaces in the PRC and internationally.

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