Baidu (NASDAQ:BIDU) Sees Unusually-High Trading Volume – Here’s What Happened

Baidu, Inc. (NASDAQ:BIDU) saw strong trading volume on Monday . 3,991,747 shares changed hands during mid-day trading, an increase of 4% from the previous session’s volume of 3,853,191 shares.The stock last traded at $98.50 and had previously closed at $93.82.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Mizuho upped their price objective on shares of Baidu from $95.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. China Renaissance cut shares of Baidu from a “buy” rating to a “hold” rating and set a $86.00 price objective for the company. in a research note on Monday, November 25th. Susquehanna cut shares of Baidu from a “positive” rating to a “neutral” rating and cut their price objective for the company from $105.00 to $85.00 in a research note on Monday, November 25th. Barclays upped their price objective on shares of Baidu from $83.00 to $95.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 11th. Finally, Daiwa Capital Markets reiterated an “outperform” rating on shares of Baidu in a report on Tuesday, February 18th. Thirteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $111.25.

Baidu Stock Up 0.2 %

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 firm has a market capitalization of $35.95 billion, a P/E ratio of 11.18, a price-to-earnings-growth ratio of 2.96 and a beta of 0.47. The company’s fifty day simple moving average is $89.12 and its 200 day simple moving average is $89.69.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BIDU. Atria Investments Inc bought a new position in Baidu in the 3rd quarter worth $216,000. GSA Capital Partners LLP increased its stake in shares of Baidu by 40.3% in the 3rd quarter. GSA Capital Partners LLP now owns 4,859 shares of the information services provider’s stock worth $512,000 after acquiring an additional 1,396 shares in the last quarter. Oppenheimer & Co. Inc. increased its stake in shares of Baidu by 6.9% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 5,563 shares of the information services provider’s stock worth $586,000 after acquiring an additional 357 shares in the last quarter. Natixis Advisors LLC increased its stake in shares of Baidu by 18.9% in the 3rd quarter. Natixis Advisors LLC now owns 16,822 shares of the information services provider’s stock worth $1,771,000 after acquiring an additional 2,669 shares in the last quarter. Finally, Banque Cantonale Vaudoise increased its stake in shares of Baidu by 260.4% in the 3rd quarter. Banque Cantonale Vaudoise now owns 11,467 shares of the information services provider’s stock worth $1,207,000 after acquiring an additional 8,285 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.