Baidu (NASDAQ:BIDU) Sees Large Volume Increase – Here’s What Happened

Baidu, Inc. (NASDAQ:BIDU) saw unusually-strong trading volume on Monday . Approximately 3,991,747 shares traded hands during mid-day trading, an increase of 4% from the previous session’s volume of 3,853,191 shares.The stock last traded at $98.50 and had previously closed at $93.82.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BIDU. Citigroup lowered their target price on shares of Baidu from $142.00 to $141.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. Daiwa Capital Markets restated an “outperform” rating on shares of Baidu in a research report on Tuesday, February 18th. StockNews.com cut shares of Baidu from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Benchmark restated a “buy” rating and set a $130.00 price objective on shares of Baidu in a research report on Wednesday, February 19th. Finally, Sanford C. Bernstein reissued a “market perform” rating on shares of Baidu in a research note on Saturday, March 8th. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $111.25.

Baidu Trading Up 9.1 %

The company has a current ratio of 2.09, a quick ratio of 2.19 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $35.89 billion, a PE ratio of 11.15, a PEG ratio of 2.96 and a beta of 0.47. The business has a fifty day moving average price of $88.34 and a two-hundred day moving average price of $89.44.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Atria Investments Inc acquired a new position in Baidu in the 3rd quarter valued at about $216,000. Apollon Wealth Management LLC acquired a new position in shares of Baidu in the third quarter valued at approximately $315,000. GSA Capital Partners LLP increased its stake in Baidu by 40.3% during the 3rd quarter. GSA Capital Partners LLP now owns 4,859 shares of the information services provider’s stock worth $512,000 after buying an additional 1,396 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in Baidu by 6.9% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 5,563 shares of the information services provider’s stock worth $586,000 after buying an additional 357 shares in the last quarter. Finally, Natixis Advisors LLC boosted its position in Baidu by 18.9% in the 3rd quarter. Natixis Advisors LLC now owns 16,822 shares of the information services provider’s stock valued at $1,771,000 after buying an additional 2,669 shares during the period.

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.