Baidu (NASDAQ:BIDU) Shares Down 4% – Should You Sell?

Baidu, Inc. (NASDAQ:BIDU)’s stock price dropped 4% during mid-day trading on Monday . The company traded as low as $98.68 and last traded at $99.67. Approximately 3,219,059 shares were traded during mid-day trading, a decline of 11% from the average daily volume of 3,620,721 shares. The stock had previously closed at $103.80.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on BIDU shares. Susquehanna dropped their price objective on Baidu from $135.00 to $105.00 and set a “positive” rating on the stock in a research report on Thursday, September 5th. Citigroup lowered their price target on shares of Baidu from $170.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Sanford C. Bernstein cut shares of Baidu from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $130.00 to $97.00 in a research report on Friday, August 23rd. Hsbc Global Res lowered shares of Baidu from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Finally, StockNews.com cut Baidu from a “buy” rating to a “hold” rating in a research report on Tuesday, July 16th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $132.13.

Baidu Trading Down 4.5 %

The company’s 50-day moving average is $90.71 and its 200 day moving average is $95.33. The company has a market cap of $34.76 billion, a price-to-earnings ratio of 13.34 and a beta of 0.49. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.19.

Hedge Funds Weigh In On Baidu

Several institutional investors and hedge funds have recently modified their holdings of BIDU. Crewe Advisors LLC purchased a new position in shares of Baidu during the 1st quarter valued at approximately $31,000. Silicon Valley Capital Partners purchased a new position in Baidu in the 1st quarter valued at about $53,000. iA Global Asset Management Inc. acquired a new stake in Baidu in the 2nd quarter worth about $52,000. Grove Bank & Trust increased its stake in Baidu by 21.6% during the 3rd 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. Finally, Denver PWM LLC purchased a new position in shares of Baidu in the second quarter valued at approximately $67,000.

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.