Alibaba Group Holding Limited (NYSE:BABA) Sees Significant Decline in Short Interest

Alibaba Group Holding Limited (NYSE:BABAGet Free Report) was the recipient of a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 44,030,000 shares, a decrease of 7.3% from the February 29th total of 47,520,000 shares. Based on an average trading volume of 19,150,000 shares, the days-to-cover ratio is currently 2.3 days. Approximately 1.8% of the company’s shares are sold short.

Institutional Trading of Alibaba Group

A number of large investors have recently added to or reduced their stakes in the stock. HighPoint Advisor Group LLC purchased a new stake in Alibaba Group during the fourth quarter worth about $2,736,000. Accent Capital Management LLC purchased a new stake in Alibaba Group during the fourth quarter worth about $233,000. Leo Wealth LLC purchased a new stake in Alibaba Group during the fourth quarter worth about $1,734,000. MONECO Advisors LLC purchased a new stake in Alibaba Group during the fourth quarter worth about $388,000. Finally, Sivia Capital Partners LLC purchased a new stake in Alibaba Group during the fourth quarter worth about $257,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Performance

Shares of BABA stock opened at $72.92 on Wednesday. The firm has a 50-day moving average of $73.69 and a 200-day moving average of $77.20. The company has a market cap of $185.03 billion, a P/E ratio of 13.45 and a beta of 0.47. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.80 and a quick ratio of 1.80. Alibaba Group has a one year low of $66.63 and a one year high of $103.24.

Alibaba Group (NYSE:BABAGet Free Report) last announced its earnings results on Wednesday, February 7th. The specialty retailer reported $18.97 EPS for the quarter, missing the consensus estimate of $19.12 by ($0.15). The firm had revenue of $260.35 billion during the quarter, compared to analysts’ expectations of $260.26 billion. Alibaba Group had a net margin of 10.75% and a return on equity of 12.65%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.44 EPS. Equities research analysts forecast that Alibaba Group will post 7.97 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on BABA shares. Susquehanna reduced their price objective on shares of Alibaba Group from $150.00 to $135.00 and set a “positive” rating on the stock in a research note on Thursday, February 8th. StockNews.com raised shares of Alibaba Group from a “hold” rating to a “buy” rating in a research note on Tuesday, February 27th. The Goldman Sachs Group reduced their price objective on shares of Alibaba Group from $121.00 to $105.00 and set a “buy” rating on the stock in a research note on Thursday, February 8th. JPMorgan Chase & Co. reduced their price objective on shares of Alibaba Group from $110.00 to $105.00 and set an “overweight” rating on the stock in a research note on Thursday, February 8th. Finally, Barclays reduced their price objective on shares of Alibaba Group from $138.00 to $109.00 and set an “overweight” rating on the stock in a research note on Friday, January 12th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Alibaba Group currently has an average rating of “Moderate Buy” and an average target price of $115.44.

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About Alibaba Group

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Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to 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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