Baidu, Inc. (NASDAQ:BIDU – Get Free Report) shares saw unusually-high trading volume on Monday . Approximately 4,200,156 shares changed hands during trading, an increase of 22% from the previous session’s volume of 3,446,226 shares.The stock last traded at $110.17 and had previously closed at $105.17.
Wall Street Analyst Weigh In
BIDU has been the topic of several recent analyst reports. Bank of America dropped their price objective on Baidu from $128.00 to $117.00 and set a “buy” rating on the stock in a research note on Friday, August 23rd. Jefferies Financial Group cut their price target on shares of Baidu from $174.00 to $139.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Benchmark decreased their price objective on shares of Baidu from $180.00 to $135.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Loop Capital cut their target price on Baidu from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. Finally, HSBC downgraded Baidu from a “buy” rating to a “hold” rating and set a $100.00 price target for the company. in a research report on Tuesday, September 24th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Baidu has an average rating of “Moderate Buy” and a consensus target price of $132.13.
Baidu Price Performance
The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.32 and a current ratio of 2.32. The company has a market cap of $37.17 billion, a P/E ratio of 14.08 and a beta of 0.48. The firm’s fifty day moving average is $86.79 and its two-hundred day moving average is $95.03.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in BIDU. Nordea Investment Management AB raised its stake in shares of Baidu by 14.5% in the first quarter. Nordea Investment Management AB now owns 398,387 shares of the information services provider’s stock valued at $42,125,000 after acquiring an additional 50,599 shares during the period. SRN Advisors LLC increased its stake in Baidu by 111.5% in the first quarter. SRN Advisors LLC now owns 15,694 shares of the information services provider’s stock worth $1,652,000 after purchasing an additional 8,272 shares during the period. Perpetual Ltd lifted its position in shares of Baidu by 45.4% during the first quarter. Perpetual Ltd now owns 147,165 shares of the information services provider’s stock worth $15,451,000 after purchasing an additional 45,975 shares during the last quarter. Bryn Mawr Capital Management LLC purchased a new stake in shares of Baidu during the first quarter valued at $216,000. Finally, Clear Harbor Asset Management LLC grew its holdings in shares of Baidu by 126.5% in the second quarter. Clear Harbor Asset Management LLC now owns 11,211 shares of the information services provider’s stock worth $970,000 after purchasing an additional 6,261 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.