Baidu (NASDAQ:BIDU) Trading Down 0.1% – Here’s What Happened

Baidu, Inc. (NASDAQ:BIDU) fell 0.1% on Monday . The stock traded as low as $84.30 and last traded at $84.48. 700,534 shares were traded during trading, a decline of 81% from the average session volume of 3,605,965 shares. The stock had previously closed at $84.58.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Hsbc Global Res cut shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Sanford C. Bernstein cut Baidu from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $130.00 to $97.00 in a research note on Friday, August 23rd. Susquehanna lowered their target price on Baidu from $135.00 to $105.00 and set a “positive” rating on the stock in a research report on Thursday, September 5th. Mizuho reduced their price target on shares of Baidu from $130.00 to $115.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Finally, Jefferies Financial Group decreased their price target on shares of Baidu from $174.00 to $139.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Baidu has an average rating of “Moderate Buy” and a consensus price target of $127.29.

Baidu Stock Performance

The company’s 50-day simple moving average is $93.76 and its 200 day simple moving average is $93.01. The stock has a market cap of $30.16 billion, a P/E ratio of 11.33 and a beta of 0.51. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.19.

Institutional Trading of Baidu

A number of hedge funds have recently bought and sold shares of the business. SRN Advisors LLC raised its stake in shares of Baidu by 111.5% during the 1st quarter. SRN Advisors LLC now owns 15,694 shares of the information services provider’s stock worth $1,652,000 after purchasing an additional 8,272 shares during the period. Handelsbanken Fonder AB raised its position in Baidu by 8.9% in the third quarter. Handelsbanken Fonder AB now owns 182,817 shares of the information services provider’s stock worth $19,249,000 after acquiring an additional 15,000 shares during the period. Clear Harbor Asset Management LLC raised its position in Baidu by 82.9% in the third quarter. Clear Harbor Asset Management LLC now owns 20,503 shares of the information services provider’s stock worth $2,159,000 after acquiring an additional 9,292 shares during the period. B. Riley Wealth Advisors Inc. purchased a new position in Baidu in the second quarter valued at about $606,000. Finally, Swedbank AB purchased a new stake in shares of Baidu during the 1st quarter worth approximately $4,351,000.

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.