Baidu (NASDAQ:BIDU) Shares Gap Down – Time to Sell?

Baidu, Inc. (NASDAQ:BIDU) shares gapped down before the market opened on Thursday . The stock had previously closed at $117.94, but opened at $113.63. Baidu shares last traded at $114.3790, with a volume of 551,433 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Zacks Research raised shares of Baidu from a “strong sell” rating to a “hold” rating in a research report on Monday, June 15th. Citigroup reaffirmed a “buy” rating on shares of Baidu in a report on Tuesday, June 23rd. Wall Street Zen raised shares of Baidu from a “sell” rating to a “hold” rating in a research note on Monday, May 25th. Benchmark reiterated a “buy” rating and issued a $215.00 price target on shares of Baidu in a research note on Tuesday, May 19th. Finally, Morgan Stanley increased their price objective on shares of Baidu from $135.00 to $140.00 in a research note on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $162.58.

Baidu Stock Performance

The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.85 and a current ratio of 1.85. The stock has a 50 day moving average of $125.14 and a 200 day moving average of $128.82. The stock has a market capitalization of $38.55 billion, a P/E ratio of -944.09, a P/E/G ratio of 1.93 and a beta of 0.56.

Institutional Trading of Baidu

A number of large investors have recently modified their holdings of BIDU. Quadrant Capital Group LLC lifted its position in Baidu by 0.4% in the 4th quarter. Quadrant Capital Group LLC now owns 20,112 shares of the information services provider’s stock valued at $2,628,000 after purchasing an additional 73 shares during the last quarter. Keel Point LLC grew its position in Baidu by 1.5% in the 1st quarter. Keel Point LLC now owns 5,215 shares of the information services provider’s stock worth $581,000 after purchasing an additional 78 shares during the last quarter. PDS Planning Inc increased its stake in shares of Baidu by 5.7% in the fourth quarter. PDS Planning Inc now owns 1,634 shares of the information services provider’s stock valued at $213,000 after purchasing an additional 88 shares during the period. UMB Bank n.a. increased its stake in shares of Baidu by 25.9% in the fourth quarter. UMB Bank n.a. now owns 428 shares of the information services provider’s stock valued at $56,000 after purchasing an additional 88 shares during the period. Finally, Signaturefd LLC raised its holdings in shares of Baidu by 8.4% during the fourth quarter. Signaturefd LLC now owns 1,276 shares of the information services provider’s stock valued at $167,000 after buying an additional 99 shares during the last quarter.

About Baidu

Baidu, Inc, founded in 2000 and headquartered in Beijing, is a Chinese multinational technology company best known for operating one of China’s leading internet search engines. The company built its business around online search and related advertising services, providing search, content aggregation and targeted ad placements to consumers and marketers across China. Baidu went public on the NASDAQ in 2005 and has since diversified beyond search into a broader technology and AI-focused portfolio.

Core products and services include the Baidu search platform and mobile app, Baidu Maps and Baidu Baike (an online encyclopedia), along with digital content initiatives.