Baidu (NASDAQ:BIDU) Reaches New 52-Week Low at $84.02

Baidu, Inc. (NASDAQ:BIDU)’s share price hit a new 52-week low during trading on Friday . The stock traded as low as $84.02 and last traded at $84.58, with a volume of 391518 shares trading hands. The stock had previously closed at $86.42.

Analysts Set New Price Targets

Several research firms recently issued reports on BIDU. Mizuho decreased their target price on Baidu from $140.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. StockNews.com lowered Baidu from a “buy” rating to a “hold” rating in a research note on Tuesday, July 16th. Barclays decreased their target price on Baidu from $133.00 to $125.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 17th. Citigroup decreased their target price on Baidu from $170.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Finally, Macquarie lowered Baidu from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 17th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $146.60.

Baidu Stock Down 3.6 %

The business has a 50 day moving average of $92.41 and a 200-day moving average of $100.54. The stock has a market cap of $29.22 billion, a PE ratio of 11.57 and a beta of 0.49. The company has a current ratio of 2.79, a quick ratio of 2.79 and a debt-to-equity ratio of 0.25.

Institutional Trading of Baidu

Hedge funds have recently added to or reduced their stakes in the stock. Crewe Advisors LLC acquired a new stake in Baidu during the 1st quarter worth approximately $31,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Baidu in the first quarter valued at approximately $32,000. Pacific Capital Wealth Advisors Inc. purchased a new stake in shares of Baidu in the fourth quarter valued at approximately $48,000. Silicon Valley Capital Partners purchased a new stake in shares of Baidu in the first quarter valued at approximately $53,000. Finally, Accent Capital Management LLC purchased a new stake in shares of Baidu in the fourth quarter valued at approximately $66,000.

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.