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

Baidu, Inc. (NASDAQ:BIDU) shares traded down 0.1% during trading on Tuesday . The stock traded as low as $84.94 and last traded at $85.32. 430,516 shares changed hands during trading, a decline of 88% from the average session volume of 3,600,626 shares. The stock had previously closed at $85.42.

Analysts Set New Price Targets

BIDU has been the topic of several recent research reports. Jefferies Financial Group lowered their target price on shares of Baidu from $174.00 to $139.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Hsbc Global Res downgraded shares of Baidu from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Mizuho lowered their target price on Baidu from $130.00 to $115.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Loop Capital cut their price target on Baidu from $120.00 to $115.00 and set a “buy” rating for the company in a report on Monday, August 26th. Finally, HSBC lowered Baidu from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a research note on Tuesday, September 24th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.29.

Baidu Trading Up 0.6 %

The stock has a market cap of $30.13 billion, a price-to-earnings ratio of 11.27 and a beta of 0.51. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.32 and a current ratio of 2.32. The company has a 50 day moving average of $93.68 and a 200-day moving average of $93.21.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Crewe Advisors LLC acquired a new stake in Baidu during the 1st quarter worth approximately $31,000. iA Global Asset Management Inc. purchased a new position in Baidu in the second quarter valued at $52,000. Allspring Global Investments Holdings LLC grew 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 worth $72,000 after purchasing an additional 593 shares in the last quarter. Grove Bank & Trust increased its holdings in Baidu by 21.6% during the 3rd quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock worth $77,000 after purchasing an additional 130 shares during the period. Finally, Denver PWM LLC purchased a new position in shares of Baidu in the 2nd quarter valued at about $67,000.

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.