Baidu (NASDAQ:BIDU) Sets New 1-Year Low at $85.31

Shares of Baidu, Inc. (NASDAQ:BIDU) hit a new 52-week low on Tuesday . The stock traded as low as $85.31 and last traded at $85.84, with a volume of 308991 shares. The stock had previously closed at $86.21.

Analysts Set New Price Targets

Several brokerages have weighed in on BIDU. HSBC decreased their price objective on shares of Baidu from $157.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, April 24th. Citigroup reduced their price target on shares of Baidu from $181.00 to $176.00 and set a “buy” rating on the stock in a research report on Tuesday, April 9th. Loop Capital reduced their price target on shares of Baidu from $155.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday, June 21st. StockNews.com downgraded shares of Baidu from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. Finally, Benchmark restated a “buy” rating and issued a $180.00 price target on shares of Baidu in a research report on Friday, May 17th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Baidu has an average rating of “Moderate Buy” and a consensus target price of $156.64.

Baidu Stock Performance

The stock has a market capitalization of $31.58 billion, a P/E ratio of 12.06 and a beta of 0.49. The company’s 50-day moving average is $99.47 and its two-hundred day moving average is $104.10. The company has a current ratio of 2.79, a quick ratio of 2.79 and a debt-to-equity ratio of 0.25.

Institutional Trading of Baidu

A number of hedge funds and other institutional investors have recently made changes to their positions in BIDU. National Bank of Canada FI raised its position in shares of Baidu by 90,390.0% during the 4th quarter. National Bank of Canada FI now owns 901,280 shares of the information services provider’s stock worth $103,953,000 after buying an additional 900,284 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of 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 buying an additional 338,110 shares in the last quarter. Hsbc Holdings PLC raised its position in shares of Baidu by 139.3% during the 4th quarter. Hsbc Holdings PLC now owns 536,748 shares of the information services provider’s stock worth $63,907,000 after buying an additional 312,467 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Baidu by 337.5% during the 1st quarter. SG Americas Securities LLC now owns 250,418 shares of the information services provider’s stock worth $26,364,000 after buying an additional 193,180 shares in the last quarter. Finally, M&G Plc bought a new stake in shares of Baidu during the 1st quarter worth about $18,152,000.

About Baidu

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.