Baidu (NASDAQ:BIDU) Shares Down 1% – Here’s Why

Baidu, Inc. (NASDAQ:BIDU) was down 1% during trading on Thursday . The company traded as low as $90.70 and last traded at $91.32. Approximately 718,059 shares were traded during trading, a decline of 80% from the average daily volume of 3,642,566 shares. The stock had previously closed at $92.22.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Jefferies Financial Group reduced their price objective on shares of Baidu from $174.00 to $139.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. HSBC cut Baidu from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a report on Tuesday, September 24th. Hsbc Global Res lowered Baidu from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Barclays decreased their target price on shares of Baidu from $125.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. Finally, Benchmark dropped their price target on shares of Baidu from $180.00 to $135.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $128.36.

Baidu Price Performance

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 company has a market cap of $32.14 billion, a PE ratio of 12.06 and a beta of 0.49. The company has a 50-day moving average price of $92.49 and a two-hundred day moving average price of $94.30.

Institutional Trading of Baidu

Several large investors have recently bought and sold shares of BIDU. Crewe Advisors LLC purchased a new position in shares of Baidu in the first quarter valued at $31,000. iA Global Asset Management Inc. acquired a new position in Baidu in the 2nd quarter worth $52,000. Denver PWM LLC purchased a new position in Baidu in the 2nd quarter valued at about $67,000. Allspring Global Investments Holdings LLC boosted its position in Baidu by 630.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock valued at $72,000 after buying an additional 593 shares during the last quarter. Finally, Grove Bank & Trust grew its stake in shares of Baidu by 21.6% during the third 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 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.