Baidu (NASDAQ:BIDU) Sees Unusually-High Trading Volume - What's Next?

Baidu, Inc. (NASDAQ:BIDU - Get Free Report) shares saw strong trading volume on Wednesday . 3,989,057 shares were traded during mid-day trading, a decline of 18% from the previous session's volume of 4,876,077 shares.The stock last traded at $89.00 and had previously closed at $89.34.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on BIDU shares. Mizuho boosted their price target on shares of Baidu from $95.00 to $105.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. StockNews.com lowered Baidu from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Benchmark reaffirmed a "buy" rating and issued a $130.00 target price on shares of Baidu in a research report on Wednesday, February 19th. Nomura lowered Baidu from a "buy" rating to a "neutral" rating in a research report on Wednesday, February 19th. Finally, Barclays decreased their price objective on Baidu from $95.00 to $90.00 and set an "equal weight" rating for the company in a research report on Monday, April 21st. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $109.55.

Baidu Trading Down 2.3%

The company has a market capitalization of $30.14 billion, a P/E ratio of 9.52, a price-to-earnings-growth ratio of 2.96 and a beta of 0.37. The company has a fifty day simple moving average of $88.87 and a two-hundred day simple moving average of $87.98. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.09 and a quick ratio of 2.19.

Hedge Funds Weigh In On Baidu

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Creekmur Asset Management LLC bought a new position in Baidu in the 1st quarter worth $29,000. Assetmark Inc. lifted its position in shares of Baidu by 143.3% during the 1st quarter. Assetmark Inc. now owns 326 shares of the information services provider's stock worth $30,000 after purchasing an additional 192 shares during the last quarter. UMB Bank n.a. boosted its stake in Baidu by 80.3% during the 1st quarter. UMB Bank n.a. now owns 402 shares of the information services provider's stock valued at $37,000 after purchasing an additional 179 shares during the period. Rialto Wealth Management LLC acquired a new stake in Baidu in the 4th quarter valued at approximately $42,000. Finally, CX Institutional bought a new position in Baidu in the 1st quarter worth approximately $49,000.

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.

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