Baidu (NASDAQ:BIDU) Shares Gap Down – What’s Next?

Baidu, Inc. (NASDAQ:BIDU) shares gapped down before the market opened on Thursday . The stock had previously closed at $88.35, but opened at $86.40. Baidu shares last traded at $86.44, with a volume of 596,822 shares traded.

Analyst Upgrades and Downgrades

BIDU has been the topic of several research analyst reports. StockNews.com cut Baidu from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Benchmark dropped their price objective on shares of Baidu from $135.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Barclays cut Baidu from an “overweight” rating to an “equal weight” rating in a report on Friday, November 22nd. China Renaissance cut Baidu from a “buy” rating to a “hold” rating and set a $86.00 price target for the company. in a report on Monday, November 25th. Finally, HSBC lowered 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. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $113.75.

Baidu Stock Up 0.3 %

The firm has a market cap of $30.09 billion, a PE ratio of 10.50, a PEG ratio of 1.19 and a beta of 0.46. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.18. The firm has a 50 day moving average price of $88.62 and a 200-day moving average price of $90.15.

Hedge Funds Weigh In On Baidu

A number of institutional investors and hedge funds have recently modified their holdings of BIDU. iA Global Asset Management Inc. purchased a new position in Baidu in the second quarter valued at approximately $52,000. Denver PWM LLC acquired a new position in shares of Baidu in the 2nd quarter valued at $67,000. Allspring Global Investments Holdings LLC grew its position in shares of Baidu by 630.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock valued at $72,000 after buying an additional 593 shares during the last quarter. World Investment Advisors LLC acquired a new stake in Baidu during the 3rd quarter worth $72,000. Finally, Grove Bank & Trust lifted its position in Baidu by 21.6% in the third quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock valued at $77,000 after acquiring an additional 130 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.