Baidu (NASDAQ:BIDU) Shares Down 1.1% – Should You Sell?

Shares of Baidu, Inc. (NASDAQ:BIDU) fell 1.1% during trading on Thursday . The company traded as low as $83.05 and last traded at $83.55. 928,689 shares were traded during mid-day trading, a decline of 74% from the average session volume of 3,616,071 shares. The stock had previously closed at $84.46.

Wall Street Analysts Forecast Growth

BIDU has been the subject of several research analyst reports. Jefferies Financial Group decreased their price target on shares of Baidu from $174.00 to $139.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Susquehanna dropped their price target on Baidu from $135.00 to $105.00 and set a “positive” rating on the stock in a research report on Thursday, September 5th. Dbs Bank downgraded Baidu from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 3rd. HSBC cut shares of Baidu from a “buy” rating to a “hold” rating and set a $100.00 target price on the stock. in a report on Tuesday, September 24th. Finally, Hsbc Global Res lowered shares of Baidu from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $127.29.

Baidu Stock Down 0.6 %

The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $29.45 billion, a price-to-earnings ratio of 11.01 and a beta of 0.51. The company has a 50-day moving average of $93.51 and a 200-day moving average of $93.75.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Guinness Asset Management LTD increased its position in shares of Baidu by 4.4% in the 2nd quarter. Guinness Asset Management LTD now owns 2,360 shares of the information services provider’s stock valued at $204,000 after acquiring an additional 100 shares during the period. Grove Bank & Trust increased its holdings 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 valued at $77,000 after purchasing an additional 130 shares during the period. Advisors Asset Management Inc. increased its holdings in Baidu by 5.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,818 shares of the information services provider’s stock worth $297,000 after buying an additional 140 shares during the period. Blue Trust Inc. lifted its stake in Baidu by 9.0% during the 2nd quarter. Blue Trust Inc. now owns 2,078 shares of the information services provider’s stock valued at $180,000 after acquiring an additional 171 shares during the period. Finally, Intellectus Partners LLC increased its stake in shares of Baidu by 1.5% in the third quarter. Intellectus Partners LLC now owns 16,538 shares of the information services provider’s stock worth $1,741,000 after acquiring an additional 250 shares during the period.

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.