Baidu (NASDAQ:BIDU) Sees Strong Trading Volume – What’s Next?

Baidu, Inc. (NASDAQ:BIDU) saw an uptick in trading volume on Tuesday . 2,777,198 shares changed hands during mid-day trading, a decline of 22% from the previous session’s volume of 3,583,122 shares.The stock last traded at $106.07 and had previously closed at $114.47.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on BIDU shares. Barclays decreased their target price on Baidu from $125.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. Loop Capital decreased their price target on shares of Baidu from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. Benchmark cut their price objective on Baidu from $180.00 to $135.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. StockNews.com downgraded Baidu from a “buy” rating to a “hold” rating in a research report on Tuesday, July 16th. Finally, Hsbc Global Res cut Baidu from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Baidu has a consensus rating of “Moderate Buy” and a consensus target price of $132.13.

Baidu Stock Down 6.3 %

The business has a fifty day moving average of $88.84 and a 200 day moving average of $95.23. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.32 and a quick ratio of 2.32. The stock has a market capitalization of $37.60 billion, a price-to-earnings ratio of 14.13 and a beta of 0.49.

Hedge Funds Weigh In On Baidu

Hedge funds have recently modified their holdings of the business. Guinness Asset Management LTD boosted its stake in Baidu by 4.4% during the second quarter. Guinness Asset Management LTD now owns 2,360 shares of the information services provider’s stock worth $204,000 after buying an additional 100 shares during the period. Beacon Financial Group increased its holdings in Baidu by 7.2% in the 4th quarter. Beacon Financial Group now owns 1,894 shares of the information services provider’s stock valued at $226,000 after purchasing an additional 128 shares during the last quarter. Ignite Planners LLC raised its position in Baidu by 3.8% in the first quarter. Ignite Planners LLC now owns 3,791 shares of the information services provider’s stock valued at $411,000 after purchasing an additional 139 shares during the period. Blue Trust Inc. raised its position in Baidu by 9.0% in the second quarter. Blue Trust Inc. now owns 2,078 shares of the information services provider’s stock valued at $180,000 after purchasing an additional 171 shares during the period. Finally, Advisors Asset Management Inc. lifted its stake in Baidu by 8.2% during the first quarter. Advisors Asset Management Inc. now owns 2,583 shares of the information services provider’s stock worth $272,000 after purchasing an additional 196 shares in 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.