Baidu (NASDAQ:BIDU) Stock Price Down 0.1% – Here’s What Happened

Baidu, Inc. (NASDAQ:BIDU) was down 0.1% during mid-day trading on Tuesday . The company traded as low as $84.94 and last traded at $85.32. Approximately 430,516 shares were traded during trading, a decline of 88% from the average daily volume of 3,600,626 shares. The stock had previously closed at $85.42.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Barclays dropped their price target on Baidu from $125.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. Benchmark lowered their target price on shares of Baidu from $180.00 to $135.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Susquehanna dropped their price objective on Baidu from $135.00 to $105.00 and set a “positive” rating on the stock in a report on Thursday, September 5th. HSBC downgraded shares of Baidu from a “buy” rating to a “hold” rating and set a $100.00 price target on the stock. in a report on Tuesday, September 24th. Finally, Mizuho lowered their target price on shares of Baidu from $130.00 to $115.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $127.29.

Baidu Stock Performance

The company has a fifty day moving average of $93.68 and a two-hundred day moving average of $93.21. The stock has a market capitalization of $30.13 billion, a P/E ratio of 11.27 and a beta of 0.51. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.32 and a quick ratio of 2.32.

Institutional Investors Weigh In On Baidu

Several institutional investors and hedge funds have recently made changes to their positions in the company. Coldstream Capital Management Inc. bought a new stake in Baidu during the third quarter valued at $653,000. Public Employees Retirement System of Ohio bought a new stake in shares of Baidu during the 3rd quarter valued at about $5,009,000. Y Intercept Hong Kong Ltd bought a new position in Baidu in the third quarter worth about $3,660,000. MML Investors Services LLC raised its position in shares of Baidu by 453.5% during the 3rd quarter. MML Investors Services LLC now owns 13,877 shares of the information services provider’s stock worth $1,461,000 after purchasing an additional 11,370 shares during the period. Finally, National Bank of Canada FI raised its holdings in shares of Baidu by 10.8% during the third quarter. National Bank of Canada FI now owns 118,886 shares of the information services provider’s stock valued at $12,518,000 after buying an additional 11,634 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.