Baidu (NASDAQ:BIDU) Shares Down 0.5% - Time to Sell?

Baidu, Inc. (NASDAQ:BIDU - Get Free Report) shares fell 0.5% during trading on Friday . The company traded as low as $90.09 and last traded at $90.79. 688,638 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 3,637,860 shares. The stock had previously closed at $91.23.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BIDU. Dbs Bank lowered Baidu from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 3rd. Susquehanna cut their target price on Baidu from $135.00 to $105.00 and set a "positive" rating for the company in a research note on Thursday, September 5th. Sanford C. Bernstein downgraded shares of Baidu from an "outperform" rating to a "market perform" rating and decreased their price target for the stock from $130.00 to $97.00 in a research note on Friday, August 23rd. Barclays cut their price objective on shares of Baidu from $125.00 to $115.00 and set an "overweight" rating for the company in a research note on Friday, August 23rd. Finally, HSBC cut shares of Baidu from a "buy" rating to a "hold" rating and set a $100.00 target price on the stock. in a research report on Tuesday, September 24th. 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 MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $128.36.

Baidu Stock Down 0.9 %

The company has a debt-to-equity ratio of 0.19, a current ratio of 2.32 and a quick ratio of 2.32. The stock has a market capitalization of $31.70 billion, a PE ratio of 11.91 and a beta of 0.49. The company has a 50 day moving average price of $92.60 and a 200-day moving average price of $94.28.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Crewe Advisors LLC bought a new position in shares of Baidu in the 1st quarter worth approximately $31,000. iA Global Asset Management Inc. purchased a new position in Baidu during the second quarter valued at $52,000. Denver PWM LLC bought a new stake in shares of Baidu during the 2nd quarter valued at $67,000. Allspring Global Investments Holdings LLC grew its position in shares of Baidu by 630.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider's stock worth $72,000 after buying an additional 593 shares during the period. Finally, Grove Bank & Trust increased its stake in shares of Baidu by 21.6% in the 3rd quarter. Grove Bank & Trust now owns 731 shares of the information services provider's stock worth $77,000 after acquiring an additional 130 shares in the last quarter.

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.

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