Baidu (NASDAQ:BIDU) Trading Up 0.8% – Here’s What Happened

Shares of Baidu, Inc. (NASDAQ:BIDU) rose 0.8% during trading on Tuesday . The company traded as high as $94.52 and last traded at $93.92. Approximately 1,158,911 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 3,656,334 shares. The stock had previously closed at $93.13.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BIDU. Hsbc Global Res downgraded Baidu from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. StockNews.com lowered Baidu from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Citigroup dropped their price target on Baidu from $170.00 to $155.00 and set a “buy” rating for the company in a report on Monday, July 15th. Sanford C. Bernstein cut shares of Baidu from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $130.00 to $97.00 in a research note on Friday, August 23rd. Finally, Loop Capital cut their price objective on shares of Baidu from $120.00 to $115.00 and set a “buy” rating for the company in a report on Monday, August 26th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Baidu presently has an average rating of “Moderate Buy” and an average target price of $128.36.

Baidu Stock Down 0.9 %

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 company has a market capitalization of $32.04 billion, a price-to-earnings ratio of 12.06 and a beta of 0.49. The firm’s fifty day simple moving average is $92.49 and its two-hundred day simple moving average is $94.30.

Institutional Trading of Baidu

Institutional investors and hedge funds have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC grew its position in shares of Baidu by 28.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,883 shares of the information services provider’s stock valued at $619,000 after purchasing an additional 1,307 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Baidu by 14.8% in the 1st quarter. BNP Paribas Financial Markets now owns 108,466 shares of the information services provider’s stock valued at $11,419,000 after purchasing an additional 14,007 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in Baidu during the 1st quarter worth $209,000. Capital Investment Counsel Inc lifted its holdings in Baidu by 9.0% during the 1st quarter. Capital Investment Counsel Inc now owns 2,425 shares of the information services provider’s stock worth $255,000 after buying an additional 200 shares during the last quarter. Finally, BNP Paribas acquired a new position in Baidu in the first quarter worth $2,105,000.

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.