Baidu (NASDAQ:BIDU) Trading Up 1.3% – Here’s What Happened

Baidu, Inc. (NASDAQ:BIDU) traded up 1.3% on Monday . The stock traded as high as $91.63 and last traded at $91.20. 479,087 shares traded hands during trading, a decline of 87% from the average session volume of 3,633,021 shares. The stock had previously closed at $90.02.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. StockNews.com downgraded Baidu from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Hsbc Global Res lowered Baidu from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Dbs Bank downgraded Baidu from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 3rd. HSBC cut Baidu from a “buy” rating to a “hold” rating and set a $100.00 price objective for the company. in a report on Tuesday, September 24th. Finally, Loop Capital decreased their target price on Baidu from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, August 26th. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $128.36.

Baidu Trading Up 0.7 %

The company has a fifty day moving average price of $92.69 and a 200-day moving average price of $94.22. 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 firm has a market cap of $31.79 billion, a price-to-earnings ratio of 11.94 and a beta of 0.51.

Institutional Investors Weigh In On Baidu

Several hedge funds and other institutional investors have recently made changes to their positions in BIDU. Crewe Advisors LLC purchased a new stake in shares of Baidu in the first quarter valued at about $31,000. iA Global Asset Management Inc. purchased a new position in shares of Baidu during the 2nd quarter worth $52,000. Denver PWM LLC purchased a new stake in Baidu in the 2nd quarter valued at about $67,000. Allspring Global Investments Holdings LLC boosted its position in shares of Baidu by 630.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock worth $72,000 after purchasing an additional 593 shares during the period. Finally, Grove Bank & Trust lifted its stake in Baidu by 21.6% during the third quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock worth $77,000 after purchasing 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.