Baidu (NASDAQ:BIDU) Shares Gap Down – Time to Sell?

Baidu, Inc. (NASDAQ:BIDU)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $93.85, but opened at $90.00. Baidu shares last traded at $89.82, with a volume of 1,616,934 shares traded.

Wall Street Analyst Weigh In

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

Baidu Stock Performance

The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.18. The stock has a market cap of $31.50 billion, a price-to-earnings ratio of 11.04, a PEG ratio of 2.03 and a beta of 0.46. The stock’s 50 day moving average is $86.33 and its two-hundred day moving average is $88.57.

Hedge Funds Weigh In On Baidu

A number of hedge funds and other institutional 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 approximately $1,054,000. Fred Alger Management LLC purchased a new position in Baidu in the 3rd quarter valued at $790,000. SG Americas Securities LLC increased its stake in Baidu by 147.5% in 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 buying an additional 227,338 shares during the period. World Investment Advisors LLC purchased a new position in Baidu during the 3rd quarter worth $72,000. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of Baidu in the 4th quarter worth $558,000.

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.