Baidu (NASDAQ:BIDU) Shares Down 0.1% – Here’s Why

Shares of Baidu, Inc. (NASDAQ:BIDU) were down 0.1% during trading on Monday . The company traded as low as $84.30 and last traded at $84.48. Approximately 700,534 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 3,605,965 shares. The stock had previously closed at $84.58.

Analyst Ratings Changes

A number of analysts have recently commented on BIDU shares. StockNews.com lowered shares of Baidu from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. HSBC lowered shares of Baidu from a “buy” rating to a “hold” rating and set a $100.00 target price for the company. in a research report on Tuesday, September 24th. Loop Capital cut their price objective on shares of Baidu from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. Hsbc Global Res cut shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Finally, Susquehanna cut their price objective on shares of Baidu from $135.00 to $105.00 and set a “positive” rating on the stock in a research report on Thursday, September 5th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the 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 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 50 day moving average price of $93.60 and a 200 day moving average price of $93.39. The firm has a market cap of $29.95 billion, a PE ratio of 11.13 and a beta of 0.51.

Institutional Trading of Baidu

Large investors have recently bought and sold shares of the company. Crewe Advisors LLC acquired a new stake in Baidu in the first quarter valued at $31,000. iA Global Asset Management Inc. acquired a new stake in shares of Baidu during the second quarter valued at $52,000. Denver PWM LLC acquired a new stake in shares of Baidu during the second quarter valued at $67,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Baidu by 630.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock valued at $72,000 after acquiring an additional 593 shares during the last quarter. Finally, Grove Bank & Trust boosted 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 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.