Investors Sell Shares of Baidu Inc. (BIDU) on Strength (BIDU)
Investors sold shares of Baidu Inc. (NASDAQ:BIDU) on strength during trading hours on Thursday. $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
A number of analysts have recently weighed in on the stock. Brean Capital reiterated a “buy” rating on shares of Baidu in a research note on Tuesday, June 21st. Vetr lowered shares of Baidu from a “strong-buy” rating to a “buy” rating and set a $180.48 price objective on the stock. in a research note on Thursday, June 30th. Barclays PLC lowered shares of Baidu to a “hold” rating in a research note on Monday, June 13th. Nomura cut their price objective on shares of Baidu from $187.00 to $160.00 and set a “neutral” rating on the stock in a research note on Thursday, July 7th. Finally, Goldman Sachs Group Inc. cut their price objective on shares of Baidu from $220.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, June 14th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the company. Baidu has an average rating of “Buy” and a consensus price target of $193.68.
The firm’s 50 day moving average price is $167.63 and its 200 day moving average price is $173.15. The company has a market capitalization of $61.19 billion and a price-to-earnings ratio of 12.88.
A hedge fund recently bought a new stake in Baidu stock. AJO LP purchased 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 (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.