Baidu (NASDAQ:BIDU) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of Baidu (NASDAQ:BIDU) from a buy rating to a hold rating in a report issued on Friday.

BIDU has been the subject of several other reports. Barclays decreased their price objective on Baidu from $125.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, August 23rd. Benchmark dropped their price objective on shares of Baidu from $180.00 to $135.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Bank of America cut their price objective on shares of Baidu from $128.00 to $117.00 and set a “buy” rating on the stock in a research report on Friday, August 23rd. Citigroup reduced their price objective on Baidu from $170.00 to $155.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Finally, Dbs Bank cut Baidu from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 3rd. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Baidu presently has a consensus rating of “Moderate Buy” and an average price target of $128.36.

Baidu Stock Performance

BIDU stock opened at $89.79 on Friday. Baidu has a 1-year low of $79.68 and a 1-year high of $126.23. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.19. The firm has a market cap of $31.48 billion, a PE ratio of 12.02 and a beta of 0.49. The business’s 50-day moving average price is $92.25 and its two-hundred day moving average price is $94.61.

Institutional Trading of Baidu

Several institutional investors and hedge funds have recently bought and sold shares of the business. Nordea Investment Management AB raised its stake in Baidu by 14.5% in the 1st quarter. Nordea Investment Management AB now owns 398,387 shares of the information services provider’s stock valued at $42,125,000 after acquiring an additional 50,599 shares during the period. SRN Advisors LLC boosted its holdings 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 buying an additional 8,272 shares during the period. Handelsbanken Fonder AB grew its stake in Baidu by 8.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 182,817 shares of the information services provider’s stock valued at $19,249,000 after buying an additional 15,000 shares during the last quarter. Bryn Mawr Capital Management LLC bought a new position in Baidu in the 1st quarter valued at about $216,000. Finally, Clear Harbor Asset Management LLC lifted its position in Baidu by 126.5% during the second quarter. Clear Harbor Asset Management LLC now owns 11,211 shares of the information services provider’s stock worth $970,000 after acquiring an additional 6,261 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.