Alibaba Group Holding Limited (NYSE:BABA – Get Free Report) saw a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 47,620,000 shares, a growth of 16.0% from the November 15th total of 41,050,000 shares. Currently, 2.0% of the company’s stock are sold short. Based on an average trading volume of 15,230,000 shares, the short-interest ratio is presently 3.1 days.

Wall Street Analysts Forecast Growth

BABA has been the subject of a number of analyst reports. Citigroup decreased their target price on shares of Alibaba Group from $151.00 to $147.00 in a research report on Monday, October 9th. Truist Financial decreased their target price on shares of Alibaba Group from $126.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, November 17th. Bank of America cut their price target on shares of Alibaba Group from $142.00 to $136.00 in a research note on Tuesday, October 10th. Morgan Stanley restated an “equal weight” rating and set a $90.00 price target (down previously from $110.00) on shares of Alibaba Group in a research note on Friday, December 1st. Finally, JPMorgan Chase & Co. cut their price target on shares of Alibaba Group from $150.00 to $125.00 and set an “overweight” rating on the stock in a research note on Friday, November 17th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alibaba Group currently has a consensus rating of “Moderate Buy” and an average price target of $129.20.

Read Our Latest Research Report on Alibaba Group

Hedge Funds Weigh In On Alibaba Group

Several hedge funds and other institutional investors have recently modified their holdings of BABA. Princeton Global Asset Management LLC acquired a new stake in Alibaba Group during the third quarter worth about $26,000. Brown Shipley& Co Ltd increased its position in Alibaba Group by 3.2% during the second quarter. Brown Shipley& Co Ltd now owns 6,565 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 202 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC acquired a new stake in Alibaba Group during the third quarter worth about $27,000. GPS Wealth Strategies Group LLC increased its position in Alibaba Group by 116.7% during the third quarter. GPS Wealth Strategies Group LLC now owns 325 shares of the specialty retailer’s stock worth $28,000 after purchasing an additional 175 shares during the last quarter. Finally, First Command Advisory Services Inc. acquired a new stake in Alibaba Group during the third quarter worth about $30,000. 14.22% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Stock Performance

BABA stock traded up $2.00 during midday trading on Friday, hitting $74.51. 31,327,519 shares of the stock traded hands, compared to its average volume of 19,592,189. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.94 and a quick ratio of 1.94. The firm has a market cap of $189.07 billion, a P/E ratio of 10.32 and a beta of 0.60. Alibaba Group has a 1-year low of $70.08 and a 1-year high of $121.30. The stock’s fifty day simple moving average is $79.86 and its 200-day simple moving average is $86.35.

Alibaba Group (NYSE:BABA – Get Free Report) last posted its quarterly earnings data on Thursday, November 16th. The specialty retailer reported $15.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $15.28 by $0.35. The business had revenue of $224.79 billion for the quarter, compared to the consensus estimate of $224.48 billion. Alibaba Group had a net margin of 14.49% and a return on equity of 12.83%. The company’s revenue was up 8.5% compared to the same quarter last year. During the same period last year, the firm posted $1.50 earnings per share. On average, analysts expect that Alibaba Group will post 8.19 earnings per share for the current year.

Alibaba Group Dividend Announcement

The firm also recently declared a — dividend, which will be paid on Thursday, January 18th. Stockholders of record on Thursday, December 21st will be paid a $1.00 dividend. The ex-dividend date is Wednesday, December 20th.

Alibaba Group Company Profile (Get Free Report)

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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Original: MarketBeat News Feed: Alibaba Group Holding Limited (NYSE:BABA) Short Interest Up 16.0% in November