Baidu (NASDAQ:BIDU) Shares Gap Down to $115.13

Baidu, Inc. (NASDAQ:BIDU)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $115.13, but opened at $108.61. Baidu shares last traded at $110.08, with a volume of 1,498,017 shares traded.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Citigroup dropped their price objective on Baidu from $170.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, July 15th. HSBC cut shares of Baidu from a “buy” rating to a “hold” rating and set a $100.00 price target on the stock. in a research note on Tuesday, September 24th. StockNews.com cut shares of Baidu from a “buy” rating to a “hold” rating in a research report on Tuesday, July 16th. Bank of America dropped their target price on shares of Baidu from $128.00 to $117.00 and set a “buy” rating on the stock in a research report on Friday, August 23rd. Finally, Benchmark cut their target price on shares of Baidu from $180.00 to $135.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.13.

Baidu Stock Performance

The stock has a 50-day moving average of $87.98 and a 200 day moving average of $95.22. The stock has a market cap of $38.55 billion, a PE ratio of 15.41 and a beta of 0.49. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.19.

Institutional Trading of Baidu

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Crewe Advisors LLC purchased a new stake in shares of Baidu in the 1st quarter valued at approximately $31,000. iA Global Asset Management Inc. acquired a new position in Baidu during the second quarter worth $52,000. Silicon Valley Capital Partners purchased a new position in shares of Baidu during the first quarter worth $53,000. Accent Capital Management LLC acquired a new stake in shares of Baidu in the fourth quarter valued at $66,000. Finally, Denver PWM LLC purchased a new stake in shares of Baidu in the 2nd quarter valued at $67,000.

About Baidu

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.