Baidu (NASDAQ:BIDU) Shares Down 3.7% – Here’s What Happened

Baidu, Inc. (NASDAQ:BIDU)’s stock price was down 3.7% during trading on Wednesday . The company traded as low as $98.02 and last traded at $98.72. Approximately 1,785,760 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 5,405,641 shares. The stock had previously closed at $102.51.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. China Renaissance downgraded shares of 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. Nomura Securities lowered Baidu from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Mizuho increased their price objective on Baidu from $95.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Susquehanna downgraded Baidu from a “positive” rating to a “neutral” rating and dropped their target price for the stock from $105.00 to $85.00 in a research report on Monday, November 25th. Finally, StockNews.com cut shares of Baidu from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Thirteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Baidu has a consensus rating of “Hold” and a consensus price target of $111.25.

Baidu Stock Down 4.0 %

The company has a market capitalization of $33.06 billion, a P/E ratio of 10.28, a PEG ratio of 2.96 and a beta of 0.47. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.09 and a quick ratio of 2.19. The company has a 50 day moving average of $89.71 and a 200-day moving average of $89.78.

Hedge Funds Weigh In On Baidu

Several hedge funds have recently made changes to their positions in BIDU. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Baidu in the third quarter valued at $1,054,000. Fred Alger Management LLC bought a new stake in shares of Baidu during the 3rd quarter valued at about $790,000. SG Americas Securities LLC increased its position in shares of Baidu by 147.5% during the fourth quarter. SG Americas Securities LLC now owns 381,456 shares of the information services provider’s stock valued at $32,161,000 after buying an additional 227,338 shares during the period. World Investment Advisors LLC bought a new position in Baidu in the third quarter worth about $72,000. Finally, Union Bancaire Privee UBP SA purchased a new stake in Baidu in the fourth quarter worth about $558,000.

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.