Baidu (NASDAQ:BIDU) Sees Strong Trading Volume – What’s Next?

Shares of Baidu, Inc. (NASDAQ:BIDU) saw unusually-high trading volume on Monday . Approximately 3,305,540 shares traded hands during mid-day trading, an increase of 13% from the previous session’s volume of 2,918,714 shares.The stock last traded at $88.50 and had previously closed at $86.40.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BIDU. Barclays downgraded shares of Baidu from an “overweight” rating to an “equal weight” rating in a report on Friday, November 22nd. China Renaissance downgraded 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. Susquehanna cut Baidu from a “positive” rating to a “neutral” rating and decreased their target price for the stock from $105.00 to $85.00 in a report on Monday, November 25th. StockNews.com raised Baidu from a “hold” rating to a “buy” rating in a report on Friday, December 27th. Finally, Citigroup decreased their price objective on Baidu from $142.00 to $141.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Baidu currently has a consensus rating of “Hold” and an average target price of $113.75.

Baidu Stock Up 3.5 %

The firm has a market capitalization of $32.12 billion, a P/E ratio of 11.21, a P/E/G ratio of 1.90 and a beta of 0.46. The company has a 50 day simple moving average of $85.13 and a two-hundred day simple moving average of $88.59. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.18.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BIDU. Grove Bank & Trust lifted its position in shares of Baidu by 21.6% in the third quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock worth $77,000 after buying an additional 130 shares in the last quarter. Advisors Asset Management Inc. increased its stake in Baidu by 5.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,818 shares of the information services provider’s stock worth $297,000 after acquiring an additional 140 shares during the last quarter. Denver PWM LLC raised its holdings in shares of Baidu by 28.5% during the 3rd quarter. Denver PWM LLC now owns 991 shares of the information services provider’s stock worth $104,000 after acquiring an additional 220 shares in the last quarter. Intellectus Partners LLC boosted its position in shares of Baidu by 1.5% during the 3rd quarter. Intellectus Partners LLC now owns 16,538 shares of the information services provider’s stock valued at $1,741,000 after acquiring an additional 250 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its position in Baidu by 6.9% in the third quarter. Oppenheimer & Co. Inc. now owns 5,563 shares of the information services provider’s stock worth $586,000 after purchasing an additional 357 shares during the last quarter.

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.