Baidu (NASDAQ:BIDU) Sees Large Volume Increase – Here’s Why

Shares of Baidu, Inc. (NASDAQ:BIDU) saw an uptick in trading volume on Friday . 4,441,303 shares changed hands during trading, a decline of 14% from the previous session’s volume of 5,175,542 shares.The stock last traded at $94.60 and had previously closed at $89.65.

Analyst Ratings Changes

Several research firms have recently commented on BIDU. Susquehanna cut shares of Baidu from a “positive” rating to a “neutral” rating and decreased their price target for the company from $105.00 to $85.00 in a research note on Monday, November 25th. Barclays increased their price target on shares of Baidu from $83.00 to $95.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 11th. Citigroup decreased their price target 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. Nomura cut shares of Baidu from a “buy” rating to a “neutral” rating in a research note on Wednesday. Finally, Nomura Securities cut shares of Baidu from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Thirteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Baidu has an average rating of “Hold” and an average price target of $111.25.

Baidu Stock Up 1.7 %

The company has a current ratio of 2.09, a quick ratio of 2.19 and a debt-to-equity ratio of 0.19. The firm’s 50 day simple moving average is $87.08 and its 200-day simple moving average is $88.89. The stock has a market capitalization of $31.97 billion, a price-to-earnings ratio of 9.94, a price-to-earnings-growth ratio of 2.91 and a beta of 0.46.

Institutional Investors Weigh In On Baidu

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Primecap Management Co. CA increased its stake in Baidu by 1.5% in the 3rd quarter. Primecap Management Co. CA now owns 12,123,856 shares of the information services provider’s stock valued at $1,276,521,000 after buying an additional 176,150 shares during the last quarter. Dodge & Cox increased its stake in Baidu by 0.4% in the 4th quarter. Dodge & Cox now owns 5,916,215 shares of the information services provider’s stock valued at $498,796,000 after buying an additional 22,000 shares during the last quarter. Sanders Capital LLC increased its stake in Baidu by 0.7% in the 3rd quarter. Sanders Capital LLC now owns 2,605,728 shares of the information services provider’s stock valued at $274,357,000 after buying an additional 18,334 shares during the last quarter. Pictet Asset Management Holding SA increased its stake in Baidu by 9.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,410,307 shares of the information services provider’s stock valued at $203,213,000 after buying an additional 207,966 shares during the last quarter. Finally, Appaloosa LP increased its stake in Baidu by 7.2% in the 4th quarter. Appaloosa LP now owns 1,527,909 shares of the information services provider’s stock valued at $128,818,000 after buying an additional 102,909 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.