Baidu (NASDAQ:BIDU) Shares Gap Down – Here’s Why

Baidu, Inc. (NASDAQ:BIDU) shares gapped down prior to trading on Thursday . The stock had previously closed at $88.35, but opened at $86.40. Baidu shares last traded at $86.44, with a volume of 596,822 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BIDU. Citigroup lowered their price target 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. StockNews.com downgraded shares of Baidu from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Benchmark dropped their price objective on shares of Baidu from $135.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Loop Capital reduced their price objective on Baidu from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. Finally, Barclays downgraded Baidu from an “overweight” rating to an “equal weight” rating in a research report on Friday, November 22nd. Eleven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $113.75.

Baidu Stock Performance

The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.18. The stock’s fifty day moving average is $89.35 and its two-hundred day moving average is $90.25. The firm has a market capitalization of $30.02 billion, a price-to-earnings ratio of 10.48, a P/E/G ratio of 1.19 and a beta of 0.46.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BIDU. B. Riley Wealth Advisors Inc. raised its stake in Baidu by 134.4% in the third quarter. B. Riley Wealth Advisors Inc. now owns 16,421 shares of the information services provider’s stock valued at $1,739,000 after purchasing an additional 9,415 shares in the last quarter. DGS Capital Management LLC raised its position in Baidu by 23.5% in the third quarter. DGS Capital Management LLC now owns 3,281 shares of the information services provider’s stock valued at $345,000 after purchasing an additional 624 shares during the last quarter. Denver PWM LLC boosted its position in Baidu by 28.5% during the 3rd quarter. Denver PWM LLC now owns 991 shares of the information services provider’s stock worth $104,000 after buying an additional 220 shares during the period. World Investment Advisors LLC acquired a new position in shares of Baidu during the third quarter worth $72,000. Finally, Coldstream Capital Management Inc. acquired a new stake in shares of Baidu in the third quarter valued at about $653,000.

Baidu Company Profile

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.