18 Best 52-Week Low Stocks to Buy Now According to Short Sellers

11. Baidu, Inc. (NASDAQ:BIDU)

52 Week Range: $79.68 – $151.00

Current Share Price: $84.82

Number of Hedge Fund Holders: 42

Short interest rate: 2.72%

Baidu, Inc. (NASDAQ:BIDU) is one of China’s biggest internet giants specializing in providing search services. It offers the Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services.

Baidu, Inc. (NASDAQ:BIDU), the preeminent search engine in China, generates a significant portion of its income through advertising.  It has also set out to strengthen its growth opportunities by investing in artificial intelligence to strengthen its product portfolio.

In recent years, it has augmented its investment in artificial intelligence as a strategic move towards becoming an A.I. company. Baidu, Inc. (NASDAQ:BIDU) asserts that its leading role in artificial intelligence within China positions it favorably to maneuver through a growingly competitive landscape despite noting a decrease in quarterly revenue.

Ernie, Baidu’s expansive language model platform, often heralded as a formidable competitor to OpenAI’s GPT, has been integrated into various application services to enhance the user experience. The platform manages over 600 million requests to its A.I. system daily, which Baidu asserts is the highest recorded among Chinese entities.

The company’s Ernie platform processes over 600 million requests to its A.I. system daily, a figure Baidu attributes to being the highest among Chinese entities. In pursuing artificial intelligence advancements, it has also increased its investment in autonomous vehicles. The company’s Apollo Go robotaxis are now operational in several Chinese cities, boasting the largest fleet of vehicles at 500 in Wuhan.

Regarding its online marketing efforts, which are its main source of income, there was a 2% drop to $2.7 billion in the second quarter. This drop suggests a slowing Chinese economy, currently recovering from a slump in the property sector. This environment has made advertisers more careful with their spending.

Baidu, Inc. (NASDAQ:BIDU) is one of the best 52-week low stocks to buy now according to short sellers, as it trades at a discount with a price-to-earnings multiple of 8. On the other hand, the percentage of shares short as of the end of July stood at 2.72%.

At the end of June, 42 hedge funds tracked by Insider Monkey held stakes in Baidu, Inc. (NASDAQ:BIDU), down from 48 in the previous quarter.