Alibaba Group Holding Limited (NYSE:BABA) Short Interest Down 9.2% in October

Alibaba Group Holding Limited (NYSE:BABA) saw a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 62,560,000 shares, a drop of 9.2% from the October 15th total of 68,870,000 shares. Approximately 2.6% of the shares of the stock are sold short. Based on an average daily volume of 20,030,000 shares, the short-interest ratio is presently 3.1 days.

Alibaba Group Price Performance

NYSE:BABA traded down $2.34 on Tuesday, reaching $87.01. 14,556,664 shares of the company’s stock traded hands, compared to its average volume of 17,662,623. The stock has a 50-day simple moving average of $98.34 and a 200-day simple moving average of $85.77. Alibaba Group has a 12 month low of $66.63 and a 12 month high of $117.82. The firm has a market cap of $208.34 billion, a PE ratio of 17.70, a P/E/G ratio of 0.39 and a beta of 0.35. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.17.

Alibaba Group (NYSE:BABA) last posted its earnings results on Friday, November 15th. The specialty retailer reported $15.06 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $13.19. Alibaba Group had a net margin of 8.98% and a return on equity of 12.23%. The company had revenue of $236.50 billion during the quarter, compared to analysts’ expectations of $239.45 billion. During the same quarter in the prior year, the company posted $1.82 earnings per share. Alibaba Group’s revenue for the quarter was up 5.2% compared to the same quarter last year. Equities research analysts forecast that Alibaba Group will post 8.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BABA. Morgan Stanley reissued an “equal weight” rating and issued a $90.00 price objective on shares of Alibaba Group in a research note on Friday, August 23rd. Mizuho raised their price target on shares of Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Susquehanna lowered their price target on Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock in a report on Monday, August 19th. StockNews.com downgraded shares of Alibaba Group from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, JPMorgan Chase & Co. upped their target price on Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Alibaba Group presently has an average rating of “Moderate Buy” and an average price target of $114.07.

Hedge Funds Weigh In On Alibaba Group

Several hedge funds have recently made changes to their positions in the company. First Command Advisory Services Inc. purchased a new position in shares of Alibaba Group in the second quarter valued at approximately $25,000. GPS Wealth Strategies Group LLC increased its position in shares of Alibaba Group by 139.3% during the second quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 209 shares during the period. Strategic Investment Solutions Inc. IL purchased a new position in Alibaba Group in the second quarter valued at $27,000. Concord Wealth Partners boosted its stake in shares of Alibaba Group by 155.0% in the 3rd quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 155 shares during the period. Finally, Highline Wealth Partners LLC acquired a new stake in Alibaba Group in the third quarter valued at approximately $36,000. 13.47% of the stock is owned by institutional investors and hedge funds.

About Alibaba Group

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.