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

Baidu, Inc. (NASDAQ:BIDU) shares saw an uptick in trading volume on Friday . 4,441,303 shares were traded during trading, a decline of 14% from the previous session’s volume of 5,175,542 shares.The stock last traded at $94.60 and had previously closed at $89.65.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Daiwa Capital Markets reaffirmed an “outperform” rating on shares of Baidu in a research note on Tuesday. China Renaissance lowered shares of Baidu from a “buy” rating to a “hold” rating and set a $86.00 price objective on the stock. in a report on Monday, November 25th. Barclays lifted their target price on Baidu from $83.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 11th. Susquehanna downgraded Baidu from a “positive” rating to a “neutral” rating and reduced their price target for the company from $105.00 to $85.00 in a report on Monday, November 25th. Finally, Nomura lowered Baidu from a “buy” rating to a “neutral” rating in a research note on Wednesday. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Baidu presently has a consensus rating of “Hold” and an average target price of $111.25.

Baidu Trading Up 2.9 %

The firm has a market cap of $32.36 billion, a P/E ratio of 10.07, a P/E/G ratio of 2.02 and a beta of 0.46. The business’s 50-day moving average is $87.08 and its two-hundred day moving average is $88.83. The company has a current ratio of 2.09, a quick ratio of 2.19 and a debt-to-equity ratio of 0.19.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Baidu during the third quarter valued at $1,054,000. Fred Alger Management LLC acquired a new position in Baidu during the 3rd quarter valued at about $790,000. SG Americas Securities LLC grew its position in Baidu by 147.5% in the 4th quarter. SG Americas Securities LLC now owns 381,456 shares of the information services provider’s stock worth $32,161,000 after purchasing an additional 227,338 shares during the last quarter. World Investment Advisors LLC acquired a new stake in shares of Baidu in the third quarter valued at approximately $72,000. Finally, Union Bancaire Privee UBP SA bought a new stake in shares of Baidu during the fourth quarter valued at approximately $558,000.

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.