Traders Sell Baidu Inc. (BIDU) on Strength (BIDU)
Investors sold shares of Baidu Inc. (NASDAQ:BIDU) on strength during trading hours on Friday. $155.47 million flowed into the stock on the tick-up and $170.82 million flowed out of the stock on the tick-down, for a money net flow of $15.35 million out of the stock. Of all companies tracked, Baidu had the 0th highest net out-flow for the day. Baidu traded up $5.48 for the day and closed at $176.55
Several brokerages have issued reports on BIDU. Credit Suisse Group AG reaffirmed an “outperform” rating and issued a $190.00 price objective on shares of Baidu in a research report on Wednesday, July 20th. Brean Capital reaffirmed a “buy” rating on shares of Baidu in a research report on Wednesday, July 6th. JPMorgan Chase & Co. began coverage on shares of Baidu in a research report on Wednesday. They issued an “underweight” rating and a $164.00 price objective for the company. Nomura lowered their price objective on shares of Baidu from $187.00 to $160.00 and set a “neutral” rating for the company in a research report on Thursday, July 7th. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $180.00 price objective (down previously from $215.00) on shares of Baidu in a research report on Sunday, July 31st. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and sixteen have assigned a buy rating to the company. Baidu currently has an average rating of “Buy” and an average target price of $193.68.
The company has a market cap of $61.62 billion and a PE ratio of 12.97. The company has a 50-day moving average price of $167.99 and a 200-day moving average price of $173.19.
An institutional investor recently bought a new position in Baidu stock. AJO LP purchased a new position in shares of Baidu Inc. (NASDAQ:BIDU) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 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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