Baidu (NASDAQ:BIDU) Sees Large Volume Increase – Here’s What Happened

Baidu, Inc. (NASDAQ:BIDU) shares saw unusually-high trading volume on Thursday . Approximately 3,871,168 shares changed hands during trading, a decline of 7% from the previous session’s volume of 4,184,450 shares.The stock last traded at $97.08 and had previously closed at $93.34.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BIDU. Benchmark reaffirmed a “buy” rating and set a $130.00 price target on shares of Baidu in a research note on Friday, January 24th. Barclays boosted their price target on Baidu from $83.00 to $95.00 and gave the company an “equal weight” rating in a research report on Tuesday. China Renaissance cut shares of Baidu from a “buy” rating to a “hold” rating and set a $86.00 target price on the stock. in a research report on Monday, November 25th. Susquehanna cut shares of Baidu from a “positive” rating to a “neutral” rating and dropped their target price for the stock from $105.00 to $85.00 in a report on Monday, November 25th. Finally, Mizuho lowered their price objective on Baidu from $130.00 to $115.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $112.08.

Baidu Trading Up 0.9 %

The stock has a market cap of $34.18 billion, a P/E ratio of 11.93, a PEG ratio of 2.03 and a beta of 0.46. The business’s 50 day simple moving average is $87.01 and its 200 day simple moving average is $88.71. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.19 and a quick ratio of 2.19.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Rialto Wealth Management LLC bought a new stake in Baidu during the fourth quarter worth about $42,000. Sycomore Asset Management bought a new position in shares of Baidu in the fourth quarter worth about $51,000. GeoWealth Management LLC lifted its position in Baidu by 88.5% during the 4th quarter. GeoWealth Management LLC now owns 656 shares of the information services provider’s stock valued at $55,000 after purchasing an additional 308 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Baidu by 630.9% during the third 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 last quarter. Finally, World Investment Advisors LLC acquired a new position in Baidu in the third quarter valued at approximately $72,000.

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.