Baidu (NASDAQ:BIDU) Trading Down 3.7% – Time to Sell?

Baidu, Inc. (NASDAQ:BIDU)’s stock price dropped 3.7% on Wednesday . The company traded as low as $98.02 and last traded at $98.72. Approximately 1,785,760 shares were traded 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 equities research analysts have recently issued reports on BIDU shares. Sanford C. Bernstein restated a “market perform” rating on shares of Baidu in a research note on Saturday, March 8th. China Renaissance cut 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. Barclays upped their price target on shares of Baidu from $83.00 to $95.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 11th. Benchmark reiterated a “buy” rating and issued a $130.00 target price on shares of Baidu in a research report on Wednesday, February 19th. Finally, Nomura downgraded shares of Baidu from a “buy” rating to a “neutral” rating in a report on Wednesday, February 19th. Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Baidu has a consensus rating of “Hold” and a consensus price target of $111.25.

Baidu Price Performance

The stock has a market capitalization of $34.70 billion, a price-to-earnings ratio of 10.79, a P/E/G ratio of 2.96 and a beta of 0.47. The company has a quick ratio of 2.19, a current ratio of 2.09 and a debt-to-equity ratio of 0.19. The business’s 50 day simple moving average is $89.12 and its 200-day simple moving average is $89.69.

Institutional Trading of Baidu

Hedge funds have recently modified their holdings of the stock. RPD Fund Management LLC purchased a new position in shares of Baidu in the 4th quarter worth about $72,245,000. FIL Ltd lifted its holdings in Baidu by 367.1% during the fourth quarter. FIL Ltd now owns 599,918 shares of the information services provider’s stock valued at $50,579,000 after purchasing an additional 471,497 shares during the last quarter. Maple Rock Capital Partners Inc. purchased a new stake in shares of Baidu in the third quarter worth about $42,748,000. Cantor Fitzgerald L. P. lifted its holdings in shares of Baidu by 1,510.9% in the fourth quarter. Cantor Fitzgerald L. P. now owns 399,975 shares of the information services provider’s stock worth $33,722,000 after buying an additional 375,145 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Baidu in the third quarter worth about $36,272,000.

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.