Baidu (NASDAQ:BIDU) Shares Down 0.1% – What’s Next?

Baidu, Inc. (NASDAQ:BIDU)’s share price dropped 0.1% during mid-day trading on Monday . The company traded as low as $84.30 and last traded at $84.48. Approximately 700,534 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 3,605,965 shares. The stock had previously closed at $84.58.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Jefferies Financial Group dropped their price objective on shares of Baidu from $174.00 to $139.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Mizuho reduced their price objective on shares of Baidu from $130.00 to $115.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Hsbc Global Res downgraded Baidu from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Loop Capital decreased their price objective on Baidu from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. Finally, HSBC downgraded Baidu from a “buy” rating to a “hold” rating and set a $100.00 target price for the company. in a research note on Tuesday, September 24th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $127.29.

Baidu Stock Performance

The company’s 50-day moving average price is $93.76 and its two-hundred day moving average price is $93.01. The stock has a market cap of $30.16 billion, a PE ratio of 11.33 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.

Institutional Investors Weigh In On Baidu

A number of large investors have recently added to or reduced their stakes in BIDU. Crewe Advisors LLC purchased a new position in shares of Baidu during the 1st quarter valued at about $31,000. iA Global Asset Management Inc. purchased a new stake in shares of Baidu in the 2nd quarter valued at $52,000. Denver PWM LLC bought a new position in shares of Baidu during the 2nd quarter valued at $67,000. Allspring Global Investments Holdings LLC raised its position in Baidu by 630.9% in 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 during the period. Finally, Grove Bank & Trust lifted its stake in Baidu by 21.6% in the third 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 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.