Baidu (NASDAQ:BIDU) Shares Gap Down – Should You Sell?

Baidu, Inc. (NASDAQ:BIDU)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $88.35, but opened at $86.40. Baidu shares last traded at $86.44, with a volume of 596,822 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. HSBC cut shares of Baidu from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a research report on Tuesday, September 24th. JPMorgan Chase & Co. lowered shares of Baidu from an “overweight” rating to a “neutral” rating in a research report on Wednesday, November 27th. China Renaissance downgraded Baidu from a “buy” rating to a “hold” rating and set a $86.00 price objective for the company. in a research note on Monday, November 25th. Hsbc Global Res cut shares of Baidu from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Finally, Barclays downgraded shares of Baidu from an “overweight” rating to an “equal weight” rating in a report on Friday, November 22nd. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Baidu presently has an average rating of “Hold” and an average price target of $113.75.

Baidu Trading Down 3.1 %

The stock’s 50 day simple moving average is $89.35 and its 200 day simple moving average is $90.25. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.19 and a current ratio of 2.19. The firm has a market cap of $30.02 billion, a PE ratio of 10.48, a PEG ratio of 1.19 and a beta of 0.46.

Hedge Funds Weigh In On Baidu

Several institutional investors have recently modified their holdings of BIDU. iA Global Asset Management Inc. purchased a new stake in Baidu during the 2nd quarter valued at $52,000. Denver PWM LLC purchased a new stake in shares of Baidu in the 2nd quarter worth approximately $67,000. Allspring Global Investments Holdings LLC raised its position in shares of Baidu by 630.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock worth $72,000 after purchasing an additional 593 shares during the last quarter. World Investment Advisors LLC bought a new stake in shares of Baidu during the third quarter valued at approximately $72,000. Finally, Grove Bank & Trust boosted its position in shares of Baidu by 21.6% during the third quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock valued at $77,000 after buying an additional 130 shares during the last quarter.

Baidu Company Profile

Baidu, Inc engages in the provision of internet search services in China. It operates through two segments: Baidu Core and iQIYI. The company offers Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Baidu Health that helps users to find the doctor and hospital for healthcare needs; and Haokan, a short video app.