Baidu (NASDAQ:BIDU) Trading 1.3% Higher - Here's What Happened

Baidu, Inc. (NASDAQ:BIDU - Get Free Report)'s stock price rose 1.3% during mid-day trading on Monday . The company traded as high as $91.63 and last traded at $91.20. Approximately 479,087 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 3,633,021 shares. The stock had previously closed at $90.02.

Analyst Ratings Changes

Several equities research analysts recently weighed in on BIDU shares. StockNews.com downgraded Baidu from a "buy" rating to a "hold" rating in a report on Friday, October 25th. Sanford C. Bernstein downgraded Baidu from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $130.00 to $97.00 in a research note on Friday, August 23rd. Loop Capital reduced their price target on shares of Baidu from $120.00 to $115.00 and set a "buy" rating for the company in a research report on Monday, August 26th. Dbs Bank cut shares of Baidu from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 3rd. Finally, 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 report on Friday, August 23rd. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, Baidu currently has an average rating of "Moderate Buy" and a consensus target price of $128.36.

Baidu Price Performance

The company's fifty day moving average is $92.77 and its 200 day moving average is $94.18. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.19. The stock has a market cap of $31.72 billion, a PE ratio of 11.92 and a beta of 0.51.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Nordea Investment Management AB raised its holdings in Baidu by 14.5% in the first quarter. Nordea Investment Management AB now owns 398,387 shares of the information services provider's stock valued at $42,125,000 after acquiring an additional 50,599 shares in the last quarter. SRN Advisors LLC raised its holdings in shares of Baidu by 111.5% during the first quarter. SRN Advisors LLC now owns 15,694 shares of the information services provider's stock valued at $1,652,000 after buying an additional 8,272 shares during the last quarter. Handelsbanken Fonder AB grew its stake in shares of Baidu by 8.9% in the third quarter. Handelsbanken Fonder AB now owns 182,817 shares of the information services provider's stock worth $19,249,000 after purchasing an additional 15,000 shares in the last quarter. Bryn Mawr Capital Management LLC acquired a new position in Baidu during the 1st quarter valued at about $216,000. Finally, Clear Harbor Asset Management LLC increased its stake in shares of Baidu by 82.9% during the third quarter. Clear Harbor Asset Management LLC now owns 20,503 shares of the information services provider's stock valued at $2,159,000 after acquiring an additional 9,292 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.