Baidu (NASDAQ:BIDU) Trading Down 1% – What’s Next?

Baidu, Inc. (NASDAQ:BIDU) shares traded down 1% during trading on Thursday . The stock traded as low as $90.70 and last traded at $91.32. 718,059 shares changed hands during trading, a decline of 80% from the average session volume of 3,642,566 shares. The stock had previously closed at $92.22.

Analyst Ratings Changes

BIDU has been the topic of several research analyst reports. Barclays cut their price objective on Baidu from $125.00 to $115.00 and set an “overweight” rating on the stock in a report on Friday, August 23rd. HSBC cut shares of Baidu from a “buy” rating to a “hold” rating and set a $100.00 price target on the stock. in a research report on Tuesday, September 24th. Sanford C. Bernstein downgraded shares of Baidu from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $130.00 to $97.00 in a research note on Friday, August 23rd. Susquehanna reduced their target price on shares of Baidu from $135.00 to $105.00 and set a “positive” rating on the stock in a report on Thursday, September 5th. Finally, StockNews.com downgraded shares of Baidu from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $128.36.

Baidu Stock Down 1.3 %

The firm has a 50-day moving average price of $92.69 and a two-hundred day moving average price of $94.23. The firm has a market cap of $31.57 billion, a price-to-earnings ratio of 11.86 and a beta of 0.49. 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 Trading of Baidu

Institutional investors have recently modified their holdings of the stock. Crewe Advisors LLC acquired a new stake in Baidu during the 1st quarter worth $31,000. iA Global Asset Management Inc. purchased a new stake in shares of Baidu in the second quarter valued at about $52,000. Denver PWM LLC acquired a new stake in shares of Baidu during the second quarter worth about $67,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Baidu by 630.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock worth $72,000 after buying an additional 593 shares during the last quarter. Finally, Grove Bank & Trust raised its stake in Baidu by 21.6% during the 3rd quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock valued at $77,000 after acquiring 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.