Baidu (NASDAQ:BIDU) Shares Gap Down – Time to Sell?

Baidu, Inc. (NASDAQ:BIDU)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $86.75, but opened at $82.65. Baidu shares last traded at $81.33, with a volume of 2,300,914 shares.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Jefferies Financial Group dropped their price objective on Baidu from $174.00 to $139.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Barclays decreased their price objective on Baidu from $125.00 to $115.00 and set an “overweight” rating for the company in a report on Friday, August 23rd. Mizuho reduced their target price on Baidu from $130.00 to $115.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Bank of America decreased their price objective on Baidu from $128.00 to $117.00 and set a “buy” rating for the company in a report on Friday, August 23rd. Finally, Loop Capital cut their price target on Baidu from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, August 26th. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.29.

Baidu Stock Down 6.6 %

The company has a debt-to-equity ratio of 0.19, a current ratio of 2.32 and a quick ratio of 2.32. The business has a 50 day simple moving average of $93.81 and a 200 day simple moving average of $92.97. The company has a market capitalization of $28.40 billion, a price-to-earnings ratio of 10.75 and a beta of 0.51.

Institutional Trading of Baidu

Hedge funds have recently modified their holdings of the stock. SRN Advisors LLC raised its stake in shares of Baidu by 111.5% in the first quarter. SRN Advisors LLC now owns 15,694 shares of the information services provider’s stock valued at $1,652,000 after acquiring an additional 8,272 shares in the last quarter. Handelsbanken Fonder AB increased its holdings in Baidu by 8.9% in the third quarter. Handelsbanken Fonder AB now owns 182,817 shares of the information services provider’s stock valued at $19,249,000 after buying an additional 15,000 shares during the last quarter. Clear Harbor Asset Management LLC increased its holdings in Baidu by 82.9% in the third quarter. Clear Harbor Asset Management LLC now owns 20,503 shares of the information services provider’s stock valued at $2,159,000 after buying an additional 9,292 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in Baidu in the second quarter valued at $606,000. Finally, Swedbank AB purchased a new position in shares of Baidu during the first quarter worth about $4,351,000.

About Baidu

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.