Traders Sell Baidu Inc. (BIDU) on Strength (BIDU)
Investors sold shares of Baidu Inc. (NASDAQ:BIDU) on strength during trading hours on Wednesday. $82.88 million flowed into the stock on the tick-up and $97.59 million flowed out of the stock on the tick-down, for a money net flow of $14.71 million out of the stock. Of all companies tracked, Baidu had the 0th highest net out-flow for the day. Baidu traded up $1.80 for the day and closed at $175.45
Several equities research analysts recently commented on BIDU shares. Brean Capital reissued a “buy” rating on shares of Baidu in a research note on Tuesday, May 17th. Citigroup Inc. lowered shares of Baidu from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $238.00 to $180.00 in a research note on Monday, June 13th. Oppenheimer Holdings Inc. reissued a “buy” rating and set a $225.00 price objective (down previously from $240.00) on shares of Baidu in a research note on Tuesday, May 10th. Morgan Stanley reissued an “overweight” rating and set a $200.00 price objective (down previously from $230.00) on shares of Baidu in a research note on Wednesday, May 11th. Finally, Jefferies Group dropped their price objective on shares of Baidu from $225.00 to $203.00 and set a “buy” rating on the stock in a research note on Thursday, May 12th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $193.68.
The firm has a 50-day moving average price of $167.29 and a 200 day moving average price of $173.13. The company has a market capitalization of $59.29 billion and a PE ratio of 12.48.
A hedge fund recently bought a new stake in Baidu stock. AJO LP bought a new position in Baidu Inc. (NASDAQ:BIDU) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 15,885 shares of the company’s stock, valued at approximately $3,003,000.
Baidu, Inc is a Chinese language Internet search provider. The Company offers a Chinese language search platform on its Baidu.com Website that enables users to find information online, including Webpages, news, images, documents and multimedia files, through links provided on its Website. In addition to serving individual Internet search users, the Company provides a platform for businesses to reach customers.
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