Baidu (NASDAQ:BIDU) Shares Gap Down – Should You Sell?

Baidu, Inc. (NASDAQ:BIDU) gapped down before the market opened on Wednesday . The stock had previously closed at $106.01, but opened at $102.24. Baidu shares last traded at $103.32, with a volume of 2,211,808 shares.

Analysts Set New Price Targets

BIDU has been the topic of a number of research analyst reports. Loop Capital dropped their price objective on shares of Baidu from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, August 26th. StockNews.com cut shares of Baidu from a “buy” rating to a “hold” rating in a report on Tuesday, July 16th. Susquehanna lowered their price target on shares of Baidu from $135.00 to $105.00 and set a “positive” rating on the stock in a research note on Thursday, September 5th. Sanford C. Bernstein cut shares of Baidu from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $130.00 to $97.00 in a research report on Friday, August 23rd. Finally, Benchmark decreased their price objective on Baidu from $180.00 to $135.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Baidu has a consensus rating of “Moderate Buy” and an average price target of $132.13.

Baidu Stock Performance

The stock’s 50 day moving average is $89.97 and its 200 day moving average is $95.41. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.19. The firm has a market cap of $36.49 billion, a price-to-earnings ratio of 13.93 and a beta of 0.49.

Institutional Trading of Baidu

Hedge funds have recently added to or reduced their stakes in the company. Coatue Management LLC acquired a new stake in shares of Baidu during the fourth quarter worth $660,000. Prelude Capital Management LLC boosted its holdings in Baidu by 97.2% in the 4th quarter. Prelude Capital Management LLC now owns 43,992 shares of the information services provider’s stock valued at $5,239,000 after purchasing an additional 21,687 shares during the period. Prospect Financial Services LLC acquired a new position in shares of Baidu during the 4th quarter worth approximately $2,088,000. Gordian Capital Singapore Pte Ltd increased its stake in Baidu by 45.6% during the 4th quarter. Gordian Capital Singapore Pte Ltd now owns 3,449 shares of the information services provider’s stock worth $411,000 after acquiring an additional 1,080 shares during the period. Finally, Beacon Financial Group raised its holdings in Baidu by 7.2% in the 4th quarter. Beacon Financial Group now owns 1,894 shares of the information services provider’s stock valued at $226,000 after acquiring an additional 128 shares in 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.