Baidu (NASDAQ:BIDU) Shares Gap Down – Time to Sell?

Baidu, Inc. (NASDAQ:BIDU)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $97.48, but opened at $92.79. Baidu shares last traded at $90.17, with a volume of 5,074,413 shares changing hands.

Wall Street Analyst Weigh In

BIDU has been the subject of several research analyst reports. JPMorgan Chase & Co. cut Baidu from an “overweight” rating to a “neutral” rating in a report on Wednesday, November 27th. Nomura Securities cut shares of Baidu from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Nomura lowered shares of Baidu from a “buy” rating to a “neutral” rating in a report on Wednesday. Citigroup cut their target price on shares of Baidu from $142.00 to $141.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. Finally, Susquehanna downgraded shares of Baidu from a “positive” rating to a “neutral” rating and decreased their price target for the stock from $105.00 to $85.00 in a research note on Monday, November 25th. Thirteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Baidu currently has a consensus rating of “Hold” and a consensus price target of $111.25.

Baidu Stock Up 1.8 %

The firm has a market capitalization of $31.44 billion, a P/E ratio of 9.78, a P/E/G ratio of 2.07 and a beta of 0.46. The company has a fifty day simple moving average of $87.09 and a 200 day simple moving average of $88.82. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.18.

Hedge Funds Weigh In On Baidu

Hedge funds have recently bought and sold shares of the company. Creative Planning lifted its stake in shares of Baidu by 2.8% in the third quarter. Creative Planning now owns 49,440 shares of the information services provider’s stock worth $5,206,000 after buying an additional 1,362 shares in the last quarter. Bleakley Financial Group LLC raised its holdings in Baidu by 51.3% in the 3rd quarter. Bleakley Financial Group LLC now owns 4,038 shares of the information services provider’s stock worth $425,000 after acquiring an additional 1,369 shares during the last quarter. Blue Trust Inc. lifted its position in Baidu by 26.9% in the 3rd quarter. Blue Trust Inc. now owns 2,636 shares of the information services provider’s stock valued at $278,000 after acquiring an additional 558 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Baidu by 630.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock valued at $72,000 after purchasing an additional 593 shares during the last quarter. Finally, Private Advisor Group LLC increased its holdings in shares of Baidu by 24.4% in the 3rd quarter. Private Advisor Group LLC now owns 5,526 shares of the information services provider’s stock worth $582,000 after purchasing an additional 1,083 shares in 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.