Baidu (NASDAQ:BIDU) Trading Down 3.7% – Time to Sell?

Baidu, Inc. (NASDAQ:BIDU)’s stock price traded down 3.7% on Wednesday . The company traded as low as $98.02 and last traded at $98.72. 1,785,760 shares traded hands during trading, a decline of 67% from the average session volume of 5,405,641 shares. The stock had previously closed at $102.51.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Barclays increased their price objective on Baidu from $83.00 to $95.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 11th. Daiwa Capital Markets restated an “outperform” rating on shares of Baidu in a report on Tuesday, February 18th. Susquehanna downgraded Baidu from a “positive” rating to a “neutral” rating and reduced their price objective for the stock from $105.00 to $85.00 in a report on Monday, November 25th. Mizuho boosted their price target on Baidu from $95.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Finally, Nomura cut Baidu from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 19th. Thirteen analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $111.25.

Baidu Stock Performance

The stock has a market cap of $34.70 billion, a price-to-earnings ratio of 10.79, a PEG ratio of 2.96 and a beta of 0.47. The stock’s 50 day moving average is $89.12 and its two-hundred day moving average is $89.69. The company has a current ratio of 2.09, a quick ratio of 2.19 and a debt-to-equity ratio of 0.19.

Hedge Funds Weigh In On Baidu

Large investors have recently made changes to their positions in the stock. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Baidu in the 3rd quarter valued at about $1,054,000. Fred Alger Management LLC purchased a new position in shares of Baidu in the 3rd quarter valued at about $790,000. SG Americas Securities LLC increased its holdings in Baidu by 147.5% during the 4th quarter. SG Americas Securities LLC now owns 381,456 shares of the information services provider’s stock valued at $32,161,000 after acquiring an additional 227,338 shares in the last quarter. World Investment Advisors LLC purchased a new position in Baidu during the 3rd quarter valued at about $72,000. Finally, Union Bancaire Privee UBP SA purchased a new position in Baidu during the 4th quarter valued at about $558,000.

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.