Baidu (NASDAQ:BIDU) Shares Gap Down – Time to Sell?

Baidu, Inc. (NASDAQ:BIDU)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $106.01, but opened at $102.24. Baidu shares last traded at $103.32, with a volume of 2,211,808 shares trading hands.

Wall Street Analyst Weigh In

BIDU has been the subject of several research analyst reports. Citigroup dropped their price target on Baidu from $170.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Loop Capital dropped their target price on Baidu from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, August 26th. StockNews.com cut Baidu from a “buy” rating to a “hold” rating in a report on Tuesday, July 16th. Sanford C. Bernstein downgraded Baidu from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $130.00 to $97.00 in a research note on Friday, August 23rd. Finally, Jefferies Financial Group cut their target price on shares of Baidu from $174.00 to $139.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Baidu has an average rating of “Moderate Buy” and a consensus target price of $132.13.

Baidu Trading Up 0.0 %

The firm has a market cap of $36.49 billion, a P/E ratio of 13.93 and a beta of 0.49. The firm has a fifty day simple moving average of $89.97 and a 200-day simple moving average of $95.41. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.32 and a quick ratio of 2.32.

Institutional Trading of Baidu

Several hedge funds have recently bought and sold shares of BIDU. Primecap Management Co. CA lifted its stake in shares of Baidu by 17.2% in the second quarter. Primecap Management Co. CA now owns 11,947,706 shares of the information services provider’s stock valued at $1,033,238,000 after buying an additional 1,753,577 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in Baidu by 49.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,018,685 shares of the information services provider’s stock worth $107,247,000 after purchasing an additional 338,110 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in Baidu by 103.1% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 582,475 shares of the information services provider’s stock worth $51,192,000 after purchasing an additional 295,700 shares in the last quarter. XY Capital Ltd bought a new position in shares of Baidu in the second quarter valued at approximately $23,880,000. Finally, SG Americas Securities LLC boosted its position in shares of Baidu by 337.5% during the first quarter. SG Americas Securities LLC now owns 250,418 shares of the information services provider’s stock valued at $26,364,000 after buying an additional 193,180 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.