Baidu (NASDAQ:BIDU) Trading Up 0.2% – What’s Next?

Baidu, Inc. (NASDAQ:BIDU)’s stock price rose 0.2% during mid-day trading on Friday . The company traded as high as $84.75 and last traded at $84.26. Approximately 911,847 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 3,610,916 shares. The stock had previously closed at $84.06.

Analyst Ratings Changes

Several analysts recently issued reports on BIDU shares. Dbs Bank cut shares of Baidu from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 3rd. Hsbc Global Res cut shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Mizuho lowered their price objective on Baidu from $130.00 to $115.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. HSBC cut Baidu from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a research note on Tuesday, September 24th. Finally, StockNews.com lowered Baidu from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Baidu has an average rating of “Moderate Buy” and an average price target of $127.29.

Baidu Stock Up 0.6 %

The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.19. The firm’s 50-day moving average price is $93.60 and its 200 day moving average price is $93.54. The firm has a market cap of $29.66 billion, a P/E ratio of 11.14 and a beta of 0.51.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Janney Montgomery Scott LLC acquired a new position in shares of Baidu during the first quarter worth approximately $209,000. Avantax Advisory Services Inc. grew its stake in shares of Baidu by 12.1% in the first quarter. Avantax Advisory Services Inc. now owns 4,702 shares of the information services provider’s stock worth $495,000 after purchasing an additional 506 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of Baidu during the first quarter valued at $526,000. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Baidu by 96.7% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 36,602 shares of the information services provider’s stock valued at $3,969,000 after purchasing an additional 17,994 shares in the last quarter. Finally, Pitcairn Co. bought a new stake in shares of Baidu during the first quarter valued at about $535,000.

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.