Baidu (NASDAQ:BIDU) Stock Price Up 10.2% – Here’s What Happened

Shares of Baidu, Inc. (NASDAQ:BIDU) rose 10.2% during trading on Monday . The company traded as high as $95.28 and last traded at $95.22. Approximately 4,962,717 shares traded hands during mid-day trading, an increase of 38% from the average daily volume of 3,600,761 shares. The stock had previously closed at $86.43.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Susquehanna lowered shares of Baidu from a “positive” rating to a “neutral” rating and reduced their price objective for the stock from $105.00 to $85.00 in a research note on Monday, November 25th. Jefferies Financial Group decreased their price target on shares of Baidu from $174.00 to $139.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Hsbc Global Res cut shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Loop Capital reduced their target price on Baidu from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, August 26th. Finally, HSBC downgraded Baidu from a “buy” rating to a “hold” rating and set a $100.00 price target for the company. in a report on Tuesday, September 24th. Eleven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $113.75.

Baidu Stock Up 7.6 %

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 company has a market capitalization of $32.62 billion, a P/E ratio of 11.49, a PEG ratio of 1.13 and a beta of 0.46. The firm’s 50 day moving average price is $92.46 and its two-hundred day moving average price is $90.72.

Hedge Funds Weigh In On Baidu

Large investors have recently modified their holdings of the business. Denver PWM LLC boosted its position in Baidu by 28.5% during the third quarter. Denver PWM LLC now owns 991 shares of the information services provider’s stock valued at $104,000 after purchasing an additional 220 shares during the last quarter. World Investment Advisors LLC bought a new stake in shares of Baidu during the 3rd quarter worth approximately $72,000. Coldstream Capital Management Inc. acquired a new stake in shares of Baidu in the 3rd quarter valued at approximately $653,000. Public Employees Retirement System of Ohio bought a new position in shares of Baidu in the third quarter valued at $5,009,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in Baidu during the third quarter worth $3,660,000.

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.