Alibaba Group (NYSE:BABA) Trading Down 1% – Here’s What Happened

Alibaba Group Holding Limited (NYSE:BABA) shares traded down 1% on Monday . The stock traded as low as $152.57 and last traded at $152.9010. 6,459,699 shares changed hands during trading, a decline of 49% from the average session volume of 12,775,926 shares. The stock had previously closed at $154.45.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on BABA shares. Benchmark reaffirmed a “buy” rating and set a $195.00 target price on shares of Alibaba Group in a report on Tuesday, November 25th. Loop Capital set a $140.00 price objective on Alibaba Group in a research note on Tuesday, January 6th. JPMorgan Chase & Co. dropped their target price on Alibaba Group from $240.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 26th. Barclays boosted their price target on shares of Alibaba Group from $190.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, November 26th. Finally, Macquarie Infrastructure reaffirmed an “outperform” rating on shares of Alibaba Group in a report on Tuesday, November 25th. Seventeen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $195.17.

Alibaba Group Stock Down 1.0%

The firm has a market cap of $365.04 billion, a price-to-earnings ratio of 21.12, a P/E/G ratio of 3.38 and a beta of 0.39. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.46 and a quick ratio of 1.46. The firm’s fifty day moving average is $158.99 and its two-hundred day moving average is $156.76.

Institutional Investors Weigh In On Alibaba Group

Institutional investors have recently added to or reduced their stakes in the company. NTV Asset Management LLC raised its holdings in shares of Alibaba Group by 127.4% during the third quarter. NTV Asset Management LLC now owns 15,143 shares of the specialty retailer’s stock valued at $2,707,000 after acquiring an additional 8,484 shares during the period. Marex Group plc purchased a new position in Alibaba Group during the 2nd quarter worth approximately $17,139,000. Y Intercept Hong Kong Ltd raised its stake in Alibaba Group by 197.0% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 34,225 shares of the specialty retailer’s stock valued at $3,881,000 after purchasing an additional 22,701 shares during the period. RD Finance Ltd purchased a new stake in shares of Alibaba Group in the second quarter valued at $3,408,000. Finally, Oriental Harbor Investment Master Fund acquired a new stake in shares of Alibaba Group in the third quarter worth $39,500,000. 13.47% of the stock is currently owned by institutional investors and hedge funds.

About Alibaba Group

Alibaba Group Holding Limited is a Chinese multinational conglomerate founded in 1999 in Hangzhou, China, by Jack Ma and a group of co‑founders. The company built its business around internet-based commerce and related services and has grown into one of the largest e-commerce and technology companies in the world. Alibaba completed a high‑profile initial public offering on the New York Stock Exchange in 2014.

The company operates a portfolio of online marketplaces and platforms serving different customer segments: Alibaba.com for global and domestic B2B trade, Taobao for consumer-to-consumer shopping, and Tmall for brand and retailer storefronts targeted at Chinese consumers.