Baidu (NASDAQ:BIDU) Downgraded by Hsbc Global Res

Hsbc Global Res lowered shares of Baidu (NASDAQ:BIDU) from a strong-buy rating to a hold rating in a report published on Tuesday morning, Zacks.com reports.

BIDU has been the topic of several other research reports. Sanford C. Bernstein downgraded shares of Baidu from an outperform rating to a market perform rating and lowered their price objective for the stock from $130.00 to $97.00 in a research note on Friday, August 23rd. StockNews.com downgraded shares of Baidu from a buy rating to a hold rating in a research note on Tuesday, July 16th. Loop Capital lowered their price objective on shares of Baidu from $120.00 to $115.00 and set a buy rating on the stock in a research note on Monday, August 26th. Jefferies Financial Group lowered their price objective on shares of Baidu from $174.00 to $139.00 and set a buy rating on the stock in a research note on Thursday, August 22nd. Finally, HSBC downgraded shares of Baidu from a buy rating to a hold rating and set a $100.00 price objective on the stock. in a research note on Tuesday. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $132.13.

Baidu Trading Up 9.1 %

Shares of BIDU stock opened at $102.56 on Tuesday. The business’s 50 day moving average is $86.26 and its two-hundred day moving average is $95.11. The company has a market cap of $35.96 billion, a PE ratio of 13.63 and a beta of 0.48. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.19. Baidu has a 12 month low of $79.68 and a 12 month high of $136.53.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Nordea Investment Management AB lifted its holdings in shares of Baidu by 14.5% during the first quarter. Nordea Investment Management AB now owns 398,387 shares of the information services provider’s stock valued at $42,125,000 after acquiring an additional 50,599 shares during the period. SRN Advisors LLC increased its position in Baidu by 111.5% in the first quarter. SRN Advisors LLC now owns 15,694 shares of the information services provider’s stock worth $1,652,000 after purchasing an additional 8,272 shares during the period. Perpetual Ltd grew its position in shares of Baidu by 45.4% during the 1st quarter. Perpetual Ltd now owns 147,165 shares of the information services provider’s stock worth $15,451,000 after buying an additional 45,975 shares during the period. SPX Gestao de Recursos Ltda acquired a new position in shares of Baidu during the 4th quarter worth about $11,028,000. Finally, Bryn Mawr Capital Management LLC acquired a new position in shares of Baidu during the 1st quarter worth about $216,000.

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.