Baidu (NASDAQ:BIDU) Hits New 52-Week Low at $87.82

Shares of Baidu, Inc. (NASDAQ:BIDU) hit a new 52-week low during trading on Wednesday . The company traded as low as $87.82 and last traded at $88.72, with a volume of 569296 shares trading hands. The stock had previously closed at $88.55.

Wall Street Analyst Weigh In

BIDU has been the topic of several recent analyst reports. Loop Capital reduced their price objective on shares of Baidu from $155.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, June 21st. Macquarie lowered shares of Baidu from a “strong-buy” rating to a “hold” rating in a report on Friday, May 17th. Morgan Stanley downgraded Baidu from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $140.00 to $125.00 in a research note on Friday, May 17th. Barclays decreased their target price on Baidu from $138.00 to $133.00 and set an “overweight” rating for the company in a research note on Thursday, February 29th. Finally, HSBC dropped their price target on Baidu from $157.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, April 24th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $156.64.

Baidu Trading Down 1.3 %

The business has a 50-day moving average of $100.26 and a 200-day moving average of $104.90. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.79 and a quick ratio of 2.79. The firm has a market cap of $30.52 billion, a price-to-earnings ratio of 11.65 and a beta of 0.52.

Institutional Investors Weigh In On Baidu

Large investors have recently made changes to their positions in the stock. National Bank of Canada FI raised its position in Baidu by 90,390.0% during the fourth quarter. National Bank of Canada FI now owns 901,280 shares of the information services provider’s stock worth $103,953,000 after acquiring an additional 900,284 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of 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 purchasing an additional 338,110 shares during the period. Hsbc Holdings PLC lifted its stake in Baidu by 139.3% in the 4th quarter. Hsbc Holdings PLC now owns 536,748 shares of the information services provider’s stock valued at $63,907,000 after purchasing an additional 312,467 shares during the last quarter. SG Americas Securities LLC grew its holdings in Baidu by 337.5% during the first quarter. SG Americas Securities LLC now owns 250,418 shares of the information services provider’s stock worth $26,364,000 after purchasing an additional 193,180 shares during the period. Finally, M&G Plc acquired a new position in Baidu during the first quarter worth approximately $18,152,000.

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.