Baidu (NASDAQ:BIDU) Hits New 12-Month Low - Here's Why

Baidu, Inc. (NASDAQ:BIDU - Get Free Report) shares hit a new 52-week low on Friday . The stock traded as low as $78.28 and last traded at $78.28, with a volume of 981639 shares. The stock had previously closed at $81.34.

Wall Street Analyst Weigh In

BIDU has been the topic of several recent research reports. Citigroup dropped their price objective on shares of Baidu from $142.00 to $141.00 and set a "buy" rating on the stock in a report on Friday, November 29th. JPMorgan Chase & Co. cut shares of Baidu from an "overweight" rating to a "neutral" rating in a research note on Wednesday, November 27th. Susquehanna lowered shares of Baidu from a "positive" rating to a "neutral" rating and reduced their price objective for the company from $105.00 to $85.00 in a research note on Monday, November 25th. Dbs Bank cut shares of Baidu from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 3rd. Finally, China Renaissance lowered Baidu from a "buy" rating to a "hold" rating and set a $86.00 price target for the company. in a report on Monday, November 25th. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $113.75.

Baidu Trading Down 4.8 %

The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.19 and a current ratio of 2.19. The stock has a 50-day moving average price of $86.16 and a 200-day moving average price of $89.24. The stock has a market cap of $27.15 billion, a P/E ratio of 9.48, a P/E/G ratio of 1.19 and a beta of 0.46.

Hedge Funds Weigh In On Baidu

A number of hedge funds and other institutional investors have recently bought and sold shares of BIDU. Primecap Management Co. CA raised its holdings in shares of Baidu by 1.5% during the 3rd quarter. Primecap Management Co. CA now owns 12,123,856 shares of the information services provider's stock valued at $1,276,521,000 after buying an additional 176,150 shares in the last quarter. Sanders Capital LLC raised its stake in shares of Baidu by 0.7% during the third quarter. Sanders Capital LLC now owns 2,605,728 shares of the information services provider's stock worth $274,357,000 after acquiring an additional 18,334 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of Baidu by 3.7% in the 2nd quarter. Federated Hermes Inc. now owns 1,884,556 shares of the information services provider's stock worth $162,976,000 after acquiring an additional 67,331 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Baidu by 1.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,344,309 shares of the information services provider's stock valued at $116,263,000 after purchasing an additional 14,878 shares in the last quarter. Finally, CoreView Capital Management Ltd grew its holdings in shares of Baidu by 15.6% during the 3rd quarter. CoreView Capital Management Ltd now owns 1,236,783 shares of the information services provider's stock valued at $130,221,000 after purchasing an additional 166,618 shares during 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.