Baidu (NASDAQ:BIDU) Shares Gap Down - Should You Sell?

Shares of Baidu, Inc. (NASDAQ:BIDU - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $86.75, but opened at $82.65. Baidu shares last traded at $81.33, with a volume of 2,300,914 shares changing hands.

Analyst Ratings Changes

BIDU has been the subject of a number of recent analyst reports. HSBC downgraded shares of Baidu from a "buy" rating to a "hold" rating and set a $100.00 price target for the company. in a report on Tuesday, September 24th. Dbs Bank lowered Baidu from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 3rd. Hsbc Global Res cut shares of Baidu from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 24th. Jefferies Financial Group cut their price target on Baidu from $174.00 to $139.00 and set a "buy" rating on the stock in a research note on Thursday, August 22nd. Finally, StockNews.com cut shares of Baidu from a "buy" rating to a "hold" rating in a report on Friday, October 25th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $127.29.

Baidu Trading Down 5.9 %

The stock has a market cap of $28.62 billion, a PE ratio of 10.75 and a beta of 0.51. The business's fifty day moving average is $93.77 and its 200 day moving average is $92.89. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.19.

Hedge Funds Weigh In On Baidu

Several hedge funds have recently bought and sold shares of BIDU. Guinness Asset Management LTD raised its holdings in shares of Baidu by 4.4% during the 2nd quarter. Guinness Asset Management LTD now owns 2,360 shares of the information services provider's stock valued at $204,000 after buying an additional 100 shares during the period. Grove Bank & Trust increased its stake in shares of Baidu by 21.6% in the third quarter. Grove Bank & Trust now owns 731 shares of the information services provider's stock valued at $77,000 after purchasing an additional 130 shares during the period. Advisors Asset Management Inc. boosted its position in Baidu by 5.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,818 shares of the information services provider's stock worth $297,000 after acquiring an additional 140 shares during the period. Blue Trust Inc. grew its position in Baidu by 9.0% in the 2nd quarter. Blue Trust Inc. now owns 2,078 shares of the information services provider's stock valued at $180,000 after buying an additional 171 shares in the last quarter. Finally, Intellectus Partners LLC increased its position in shares of Baidu by 1.5% during the 3rd quarter. Intellectus Partners LLC now owns 16,538 shares of the information services provider's stock valued at $1,741,000 after purchasing an additional 250 shares during the period.

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.