Baidu (NASDAQ:BIDU) Sets New 1-Year Low at $85.31

Baidu, Inc. (NASDAQ:BIDU) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as $85.31 and last traded at $85.84, with a volume of 308991 shares changing hands. The stock had previously closed at $86.21.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on BIDU shares. Susquehanna decreased their price objective on Baidu from $150.00 to $135.00 and set a “positive” rating for the company in a report on Friday, May 24th. Morgan Stanley lowered Baidu from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $140.00 to $125.00 in a report on Friday, May 17th. StockNews.com downgraded Baidu from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. HSBC cut their target price on Baidu from $157.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, April 24th. Finally, Citigroup cut their target price on Baidu from $181.00 to $176.00 and set a “buy” rating on the stock in a research report on Tuesday, April 9th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $156.64.

Baidu Price Performance

The company has a current ratio of 2.79, a quick ratio of 2.79 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $30.02 billion, a price-to-earnings ratio of 11.54 and a beta of 0.49. The stock has a 50-day moving average price of $99.92 and a 200 day moving average price of $104.48.

Institutional Investors Weigh In On Baidu

A number of institutional investors have recently modified their holdings of the business. Cape Investment Advisory Inc. grew its position in shares of Baidu by 16,537.5% during the 1st quarter. Cape Investment Advisory Inc. now owns 1,331 shares of the information services provider’s stock valued at $140,000 after acquiring an additional 1,323 shares during the period. SRN Advisors LLC grew its position in shares of Baidu by 111.5% during the 1st quarter. SRN Advisors LLC now owns 15,694 shares of the information services provider’s stock valued at $1,652,000 after acquiring an additional 8,272 shares during the period. DekaBank Deutsche Girozentrale grew its position in shares of Baidu by 6.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 286,775 shares of the information services provider’s stock valued at $30,513,000 after acquiring an additional 16,915 shares during the period. Teachers Retirement System of The State of Kentucky grew its position in shares of Baidu by 20.9% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 98,510 shares of the information services provider’s stock valued at $10,371,000 after acquiring an additional 17,000 shares during the period. Finally, Cetera Advisors LLC lifted its stake in Baidu by 80.7% in the 1st quarter. Cetera Advisors LLC now owns 5,264 shares of the information services provider’s stock valued at $554,000 after buying an additional 2,351 shares in the last quarter.

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.