Baidu (NASDAQ:BIDU) Trading 1.7% Higher - Here's What Happened

Shares of Baidu, Inc. (NASDAQ:BIDU - Get Free Report) were up 1.7% during trading on Tuesday . The company traded as high as $92.75 and last traded at $92.04. Approximately 792,889 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 3,624,609 shares. The stock had previously closed at $90.46.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on BIDU shares. Benchmark decreased their price objective on Baidu from $180.00 to $135.00 and set a "buy" rating for the company in a report on Wednesday, July 31st. Bank of America cut their price target on Baidu from $128.00 to $117.00 and set a "buy" rating for the company in a research note on Friday, August 23rd. HSBC cut shares of Baidu from a "buy" rating to a "hold" rating and set a $100.00 price objective on the stock. in a research note on Tuesday, September 24th. Jefferies Financial Group cut their target price on shares of Baidu from $174.00 to $139.00 and set a "buy" rating for the company in a research report on Thursday, August 22nd. Finally, Sanford C. Bernstein downgraded shares of Baidu from an "outperform" rating to a "market perform" rating and lowered their price target for the company from $130.00 to $97.00 in a report on Friday, August 23rd. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Baidu has an average rating of "Moderate Buy" and a consensus price target of $128.36.

Baidu Trading Up 1.6 %

The company has a market cap of $32.22 billion, a price-to-earnings ratio of 12.11 and a beta of 0.51. The company's fifty day moving average is $92.91 and its two-hundred day moving average is $94.16. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.32 and a current ratio of 2.32.

Institutional Investors Weigh In On Baidu

A number of institutional investors have recently added to or reduced their stakes in BIDU. Primecap Management Co. CA lifted its holdings in Baidu by 17.2% in the 2nd quarter. Primecap Management Co. CA now owns 11,947,706 shares of the information services provider's stock valued at $1,033,238,000 after purchasing an additional 1,753,577 shares in the last quarter. International Assets Investment Management LLC grew its position in Baidu by 12,065.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,070,694 shares of the information services provider's stock valued at $1,127,330,000 after acquiring an additional 1,061,893 shares in the last quarter. Canada Pension Plan Investment Board grew its position in Baidu by 49.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,018,685 shares of the information services provider's stock valued at $107,247,000 after acquiring an additional 338,110 shares in the last quarter. DekaBank Deutsche Girozentrale grew its position in shares of Baidu by 103.1% during the second quarter. DekaBank Deutsche Girozentrale now owns 582,475 shares of the information services provider's stock worth $51,192,000 after buying an additional 295,700 shares in the last quarter. Finally, XY Capital Ltd acquired a new position in shares of Baidu during the second quarter worth about $23,880,000.

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.