Baidu (NASDAQ:BIDU) Reaches New 52-Week Low – Here’s What Happened

Baidu, Inc. (NASDAQ:BIDU)’s share price reached a new 52-week low during trading on Friday . The stock traded as low as $78.28 and last traded at $78.28, with a volume of 981639 shares changing hands. The stock had previously closed at $81.34.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Barclays lowered shares of Baidu from an “overweight” rating to an “equal weight” rating in a research note on Friday, November 22nd. Susquehanna cut Baidu from a “positive” rating to a “neutral” rating and lowered their price target for the company from $105.00 to $85.00 in a research report on Monday, November 25th. China Renaissance lowered Baidu from a “buy” rating to a “hold” rating and set a $86.00 price objective for the company. in a report on Monday, November 25th. Hsbc Global Res lowered Baidu from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Finally, Mizuho cut their price target 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. Ten investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $113.75.

Baidu Stock Performance

The company has a market capitalization of $27.49 billion, a price-to-earnings ratio of 9.60, a P/E/G ratio of 1.19 and a beta of 0.46. The firm’s 50 day simple moving average is $86.41 and its 200-day simple moving average is $89.32. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.19 and a current ratio of 2.19.

Institutional Investors Weigh In On Baidu

A number of institutional investors have recently bought and sold shares of BIDU. Grove Bank & Trust lifted its position in shares of Baidu by 21.6% in 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. Advisors Asset Management Inc. increased its position in Baidu by 5.2% during the third quarter. Advisors Asset Management Inc. now owns 2,818 shares of the information services provider’s stock worth $297,000 after acquiring an additional 140 shares during the period. Denver PWM LLC raised its stake in Baidu by 28.5% during the 3rd quarter. Denver PWM LLC now owns 991 shares of the information services provider’s stock valued at $104,000 after purchasing an additional 220 shares during the last quarter. Intellectus Partners LLC boosted its holdings in Baidu by 1.5% in the 3rd quarter. Intellectus Partners LLC now owns 16,538 shares of the information services provider’s stock valued at $1,741,000 after purchasing an additional 250 shares during the period. Finally, Oppenheimer & Co. Inc. grew its position in Baidu by 6.9% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 5,563 shares of the information services provider’s stock worth $586,000 after purchasing an additional 357 shares during the last quarter.

About Baidu

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.