Baidu (NASDAQ:BIDU) Sees Unusually-High Trading Volume – Here’s What Happened

Baidu, Inc. (NASDAQ:BIDU) saw unusually-high trading volume on Monday . Approximately 3,991,747 shares were traded during trading, an increase of 4% from the previous session’s volume of 3,853,191 shares.The stock last traded at $98.50 and had previously closed at $93.82.

Wall Street Analyst Weigh In

BIDU has been the topic of several recent analyst reports. Barclays increased their price objective on shares of Baidu from $83.00 to $95.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 11th. China Renaissance cut shares of Baidu from a “buy” rating to a “hold” rating and set a $86.00 price objective on the stock. in a research note on Monday, November 25th. Citigroup lowered their price objective 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. Susquehanna cut shares of Baidu from a “positive” rating to a “neutral” rating and lowered their price objective for the stock from $105.00 to $85.00 in a research note on Monday, November 25th. Finally, Benchmark reiterated a “buy” rating and issued a $130.00 price objective on shares of Baidu in a research note on Wednesday, February 19th. Thirteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Baidu has a consensus rating of “Hold” and a consensus target price of $111.25.

Baidu Stock Performance

The company has a market cap of $35.95 billion, a P/E ratio of 11.18, a PEG ratio of 2.96 and a beta of 0.47. The business’s 50 day simple moving average is $89.12 and its 200 day simple moving average is $89.69. The company has a current ratio of 2.09, a quick ratio of 2.19 and a debt-to-equity ratio of 0.19.

Institutional Investors Weigh In On Baidu

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. boosted its stake in Baidu by 5.2% during the third quarter. Advisors Asset Management Inc. now owns 2,818 shares of the information services provider’s stock worth $297,000 after buying an additional 140 shares during the period. Denver PWM LLC boosted its stake in Baidu by 28.5% during the third quarter. Denver PWM LLC now owns 991 shares of the information services provider’s stock worth $104,000 after buying an additional 220 shares during the period. Intellectus Partners LLC boosted its stake in Baidu by 1.4% during the fourth quarter. Intellectus Partners LLC now owns 16,773 shares of the information services provider’s stock worth $1,414,000 after buying an additional 235 shares during the period. US Bancorp DE boosted its stake in Baidu by 7.2% during the fourth quarter. US Bancorp DE now owns 4,036 shares of the information services provider’s stock worth $340,000 after buying an additional 270 shares during the period. Finally, GeoWealth Management LLC boosted its stake in Baidu by 88.5% during the fourth quarter. GeoWealth Management LLC now owns 656 shares of the information services provider’s stock worth $55,000 after buying an additional 308 shares during the period.

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.