Baidu (NASDAQ:BIDU) Stock Price Down 0.9% – Time to Sell?

Shares of Baidu, Inc. (NASDAQ:BIDU) dropped 0.9% during trading on Wednesday . The stock traded as low as $91.28 and last traded at $92.75. Approximately 807,781 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 3,650,256 shares. The stock had previously closed at $93.59.

Analyst Upgrades and Downgrades

BIDU has been the topic of several research reports. Bank of America lowered their price objective on shares of Baidu from $128.00 to $117.00 and set a “buy” rating on the stock in a research report on Friday, August 23rd. Barclays cut their price target on Baidu from $125.00 to $115.00 and set an “overweight” rating for the company in a research note on Friday, August 23rd. Susquehanna dropped their price objective on shares of Baidu from $135.00 to $105.00 and set a “positive” rating on the stock in a research note on Thursday, September 5th. StockNews.com cut shares of Baidu from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Finally, Benchmark cut their price target on shares of Baidu from $180.00 to $135.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $128.36.

Baidu Stock Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 2.32 and a quick ratio of 2.32. The company has a fifty day moving average of $92.44 and a two-hundred day moving average of $94.31. The stock has a market capitalization of $32.52 billion, a P/E ratio of 12.21 and a beta of 0.49.

Institutional Trading of Baidu

Large investors have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC acquired a new stake in shares of Baidu in the third quarter valued at $1,201,000. Pinnacle Associates Ltd. acquired a new position in shares of Baidu in the 3rd quarter worth approximately $332,000. Diversify Advisory Services LLC acquired a new stake in Baidu during the third quarter valued at approximately $4,533,000. Strategic Wealth Investment Group LLC boosted its holdings in Baidu by 114.0% during the third quarter. Strategic Wealth Investment Group LLC now owns 8,647 shares of the information services provider’s stock worth $954,000 after buying an additional 4,606 shares in the last quarter. Finally, Kercheville Advisors LLC acquired a new position in Baidu in the third quarter worth approximately $211,000.

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.