Baidu (NASDAQ:BIDU) Shares Down 0.9% – Here’s Why

Baidu, Inc. (NASDAQ:BIDU)’s stock price was down 0.9% during trading on Wednesday . The company traded as low as $91.28 and last traded at $92.75. Approximately 807,781 shares traded hands during trading, a decline of 78% from the average daily volume of 3,650,256 shares. The stock had previously closed at $93.59.

Analyst Ratings Changes

BIDU has been the subject of several analyst reports. HSBC downgraded shares of Baidu from a “buy” rating to a “hold” rating and set a $100.00 price target for the company. in a report on Tuesday, September 24th. Susquehanna cut their price target on shares of Baidu from $135.00 to $105.00 and set a “positive” rating for the company in a report on Thursday, September 5th. Loop Capital cut their price target on shares of Baidu from $120.00 to $115.00 and set a “buy” rating for the company in a report on Monday, August 26th. Bank of America cut their price target on shares of Baidu from $128.00 to $117.00 and set a “buy” rating for the company in a report on Friday, August 23rd. Finally, Dbs Bank cut shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $128.36.

Baidu Stock Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 2.32 and a quick ratio of 2.32. The stock’s 50 day simple moving average is $92.60 and its two-hundred day simple moving average is $94.28. The stock has a market cap of $31.53 billion, a P/E ratio of 11.91 and a beta of 0.49.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BIDU. Guinness Asset Management LTD lifted its position in shares of Baidu by 4.4% in the second quarter. Guinness Asset Management LTD now owns 2,360 shares of the information services provider’s stock worth $204,000 after purchasing an additional 100 shares in the last quarter. Grove Bank & Trust lifted its position in shares of Baidu by 21.6% in the third quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock worth $77,000 after purchasing an additional 130 shares in the last quarter. Blue Trust Inc. lifted its stake in Baidu by 9.0% in the second quarter. Blue Trust Inc. now owns 2,078 shares of the information services provider’s stock valued at $180,000 after acquiring an additional 171 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in Baidu by 8.2% in the first quarter. Advisors Asset Management Inc. now owns 2,583 shares of the information services provider’s stock valued at $272,000 after acquiring an additional 196 shares during the last quarter. Finally, Capital Investment Counsel Inc lifted its stake in Baidu by 9.0% in the first quarter. Capital Investment Counsel Inc now owns 2,425 shares of the information services provider’s stock valued at $255,000 after acquiring an additional 200 shares during the last quarter.

About Baidu

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.