Baidu (NASDAQ:BIDU) Hits New 1-Year Low - Here's Why

Baidu, Inc. (NASDAQ:BIDU - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $86.84 and last traded at $87.82, with a volume of 2111484 shares trading hands. The stock had previously closed at $89.46.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BIDU. Nomura Securities cut Baidu from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Mizuho upped their price objective on shares of Baidu from $95.00 to $105.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Nomura cut shares of Baidu from a "buy" rating to a "neutral" rating in a research note on Wednesday, February 19th. Barclays decreased their price target on shares of Baidu from $95.00 to $90.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. Finally, StockNews.com cut Baidu from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $110.83.

Baidu Stock Performance

The company's 50-day simple moving average is $89.13 and its 200-day simple moving average is $88.30. The stock has a market capitalization of $30.34 billion, a price-to-earnings ratio of 9.58, a PEG ratio of 2.96 and a beta of 0.33. 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

Several large investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Baidu by 1,377.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,324,728 shares of the information services provider's stock valued at $490,035,000 after buying an additional 4,964,350 shares during the last quarter. RPD Fund Management LLC bought a new stake in Baidu in the fourth quarter valued at approximately $72,245,000. FIL Ltd increased its position in Baidu by 367.1% during the 4th quarter. FIL Ltd now owns 599,918 shares of the information services provider's stock valued at $50,579,000 after purchasing an additional 471,497 shares during the period. Cantor Fitzgerald L. P. raised its holdings in Baidu by 1,510.9% during the 4th quarter. Cantor Fitzgerald L. P. now owns 399,975 shares of the information services provider's stock worth $33,722,000 after purchasing an additional 375,145 shares during the last quarter. Finally, Polunin Capital Partners Ltd acquired a new position in shares of Baidu in the 1st quarter worth approximately $31,748,000.

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.

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