Baidu (NASDAQ:BIDU) Stock Price Down 1.1% – Here’s Why

Baidu, Inc. (NASDAQ:BIDU) shares fell 1.1% during mid-day trading on Thursday . The stock traded as low as $83.05 and last traded at $83.55. 928,689 shares were traded during mid-day trading, a decline of 74% from the average session volume of 3,616,071 shares. The stock had previously closed at $84.46.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. StockNews.com cut Baidu from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Sanford C. Bernstein lowered 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. Loop Capital decreased their price target on shares of Baidu from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, August 26th. 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. Finally, Susquehanna dropped their price target on Baidu from $135.00 to $105.00 and set a “positive” rating on the stock in a research note on Thursday, September 5th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Baidu presently has an average rating of “Moderate Buy” and an average target price of $127.29.

Baidu Price Performance

The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $29.66 billion, a P/E ratio of 11.14 and a beta of 0.51. The business’s 50-day moving average is $93.60 and its two-hundred day moving average is $93.54.

Institutional Trading of Baidu

A number of institutional investors and hedge funds have recently modified their holdings of the business. Guinness Asset Management LTD raised its stake in shares of Baidu by 4.4% during the 2nd quarter. Guinness Asset Management LTD now owns 2,360 shares of the information services provider’s stock worth $204,000 after purchasing an additional 100 shares during the period. Grove Bank & Trust grew its position in shares of 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 period. Advisors Asset Management Inc. increased its stake in shares of Baidu by 5.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,818 shares of the information services provider’s stock worth $297,000 after purchasing an additional 140 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Baidu by 9.0% in the 2nd quarter. Blue Trust Inc. now owns 2,078 shares of the information services provider’s stock worth $180,000 after purchasing an additional 171 shares during the period. Finally, Intellectus Partners LLC lifted its stake in Baidu by 1.5% in the third quarter. Intellectus Partners LLC now owns 16,538 shares of the information services provider’s stock valued at $1,741,000 after purchasing an additional 250 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.