Baidu (NASDAQ:BIDU) Shares Gap Down – Time to Sell?

Baidu, Inc. (NASDAQ:BIDU)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $117.94, but opened at $113.63. Baidu shares last traded at $114.3790, with a volume of 551,433 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BIDU. Benchmark reaffirmed a “buy” rating and issued a $215.00 price target on shares of Baidu in a research report on Tuesday, May 19th. Weiss Ratings cut shares of Baidu from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, May 18th. Morgan Stanley upped their target price on shares of Baidu from $135.00 to $140.00 in a research note on Tuesday, May 19th. BNP Paribas Exane assumed coverage on shares of Baidu in a report on Wednesday, April 1st. They set an “outperform” rating and a $161.00 price target on the stock. Finally, Citigroup reissued a “buy” rating on shares of Baidu in a research report on Tuesday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $162.58.

Baidu Stock Down 4.7%

The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.22. The company has a market cap of $38.25 billion, a P/E ratio of -936.86, a price-to-earnings-growth ratio of 1.95 and a beta of 0.56. The company has a fifty day moving average of $125.54 and a 200 day moving average of $129.01.

Institutional Investors Weigh In On Baidu

A number of large investors have recently made changes to their positions in BIDU. Signature Equity Partners LLC purchased a new stake in shares of Baidu during the 1st quarter valued at about $25,000. Binnacle Investments Inc purchased a new position in shares of Baidu in the second quarter worth approximately $29,000. Sankala Group LLC bought a new stake in Baidu during the fourth quarter valued at approximately $46,000. Brown Brothers Harriman & Co. grew its position in Baidu by 35.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 405 shares of the information services provider’s stock valued at $53,000 after buying an additional 105 shares during the period. Finally, UMB Bank n.a. increased its holdings in Baidu by 25.9% during the fourth quarter. UMB Bank n.a. now owns 428 shares of the information services provider’s stock valued at $56,000 after buying an additional 88 shares during the last quarter.

Baidu Company Profile

Baidu, Inc, founded in 2000 and headquartered in Beijing, is a Chinese multinational technology company best known for operating one of China’s leading internet search engines. The company built its business around online search and related advertising services, providing search, content aggregation and targeted ad placements to consumers and marketers across China. Baidu went public on the NASDAQ in 2005 and has since diversified beyond search into a broader technology and AI-focused portfolio.

Core products and services include the Baidu search platform and mobile app, Baidu Maps and Baidu Baike (an online encyclopedia), along with digital content initiatives.