Alibaba Group (NYSE:BABA) Shares Down 2% – Here’s Why

Shares of Alibaba Group Holding Limited (NYSE:BABA) traded down 2% on Tuesday . The stock traded as low as $162.20 and last traded at $164.2580. 9,535,447 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 21,013,543 shares. The stock had previously closed at $167.69.

Analyst Ratings Changes

A number of research firms have recently weighed in on BABA. Jefferies Financial Group boosted their price objective on shares of Alibaba Group from $178.00 to $230.00 and gave the company a “buy” rating in a research report on Monday, September 29th. Susquehanna upped their price objective on shares of Alibaba Group from $175.00 to $190.00 and gave the company a “positive” rating in a research note on Thursday, September 18th. Citigroup reaffirmed a “buy” rating on shares of Alibaba Group in a research report on Wednesday, September 24th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Alibaba Group in a research note on Wednesday, October 8th. Finally, Barclays boosted their price objective on shares of Alibaba Group from $145.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, September 8th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Alibaba Group has an average rating of “Moderate Buy” and an average price target of $190.18.

Alibaba Group Trading Down 2.0%

The firm has a market capitalization of $391.93 billion, a price-to-earnings ratio of 19.10, a PEG ratio of 2.40 and a beta of 0.18. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.45. The business’s 50-day moving average price is $162.23 and its 200 day moving average price is $133.88.

Institutional Trading of Alibaba Group

Hedge funds have recently made changes to their positions in the stock. North Ridge Wealth Advisors Inc. acquired a new position in Alibaba Group during the 1st quarter valued at approximately $26,000. Summit Securities Group LLC increased its holdings in shares of Alibaba Group by 100.3% in the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 59,000 shares during the period. Ransom Advisory Ltd bought a new position in Alibaba Group in the 1st quarter worth about $26,000. 1248 Management LLC acquired a new stake in shares of Alibaba Group in the first quarter valued at approximately $26,000. Finally, Rosenberg Matthew Hamilton bought a new stake in shares of Alibaba Group during the second quarter valued at approximately $26,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

About Alibaba Group

Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. The company operates through seven segments: China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, and Innovation Initiatives and Others.