Baidu (NASDAQ:BIDU) Shares Gap Down – What’s Next?

Baidu, Inc. (NASDAQ:BIDU) gapped down before the market opened on Friday . The stock had previously closed at $98.42, but opened at $95.22. Baidu shares last traded at $93.46, with a volume of 1,376,594 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BIDU. Mizuho boosted their target price on shares of Baidu from $95.00 to $105.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Barclays increased their target price on Baidu from $83.00 to $95.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 11th. StockNews.com lowered Baidu from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Nomura lowered shares of Baidu from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 19th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Baidu in a report on Saturday, March 8th. Thirteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Baidu presently has an average rating of “Hold” and an average target price of $111.25.

Baidu Stock Down 5.1 %

The company has a market cap of $32.74 billion, a price-to-earnings ratio of 10.18, a price-to-earnings-growth ratio of 2.96 and a beta of 0.47. The company has a current ratio of 2.09, a quick ratio of 2.19 and a debt-to-equity ratio of 0.19. The stock has a 50-day simple moving average of $91.61 and a 200-day simple moving average of $90.39.

Institutional Trading of Baidu

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fred Alger Management LLC acquired a new position in Baidu in the 3rd quarter worth approximately $790,000. SG Americas Securities LLC boosted its position in shares of Baidu by 147.5% in the fourth quarter. SG Americas Securities LLC now owns 381,456 shares of the information services provider’s stock worth $32,161,000 after buying an additional 227,338 shares during the period. World Investment Advisors LLC purchased a new position in shares of Baidu during the third quarter valued at $72,000. Union Bancaire Privee UBP SA acquired a new position in Baidu during the fourth quarter valued at $558,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Baidu by 1,111.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 360,378 shares of the information services provider’s stock worth $30,317,000 after acquiring an additional 330,627 shares in the last quarter.

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.