Baidu (NASDAQ:BIDU) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Baidu, Inc. (NASDAQ:BIDU) saw strong trading volume on Tuesday . 2,777,198 shares were traded during trading, a decline of 22% from the previous session’s volume of 3,583,122 shares.The stock last traded at $106.07 and had previously closed at $114.47.

Wall Street Analyst Weigh In

BIDU has been the subject of several recent analyst reports. Hsbc Global Res downgraded shares of Baidu from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Citigroup decreased their target price on Baidu from $170.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Susquehanna dropped their price target on Baidu from $135.00 to $105.00 and set a “positive” rating for the company in a research note on Thursday, September 5th. Barclays reduced their price objective on shares of Baidu from $125.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. Finally, Jefferies Financial Group reduced their price target on shares of Baidu from $174.00 to $139.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $132.13.

Baidu Stock Performance

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 $37.60 billion, a P/E ratio of 14.13 and a beta of 0.49. The business has a 50 day moving average price of $88.84 and a 200 day moving average price of $95.23.

Institutional Trading of Baidu

Several institutional investors and hedge funds have recently made changes to their positions in BIDU. Crewe Advisors LLC purchased a new stake in Baidu during the first quarter worth $31,000. iA Global Asset Management Inc. acquired a new stake in Baidu during the 2nd quarter worth about $52,000. Silicon Valley Capital Partners acquired a new position in shares of Baidu in the 1st quarter valued at about $53,000. Accent Capital Management LLC purchased a new stake in shares of Baidu in the fourth quarter worth about $66,000. Finally, Denver PWM LLC purchased a new position in Baidu during the second quarter valued at approximately $67,000.

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.