Baidu (BIDU) : $62.49 million worth of transactions were on upticks in Baidu (BIDU), compared to $60.84 million on downticks. The ratio between the two was 1.03, whereas, the net money flow stood at a healthy $1.64 million on Wednesdays session. The consistent buying on upticks in the stock accounted for $7.35million worth of trades. The total money flow into the stock stood at $7.35 million. The bulls and the bears were in an equilibrium as the stock closed with a loss of -0.31%. The stock was trading at $160.69, with a drop of $0.5 over the previous days close. The stock recorded -1.26% for the week.
Also, Equity Analysts at the Citigroup downgrades the rating on Baidu (NASDAQ:BIDU). The brokerage firm has issued a Neutral rating on the shares. The shares were previously rated Buy. The Analysts at the ratings agency lowers the price target from $238 per share to $180 per share. The rating by the firm was issued on June 13, 2016.
Baidu (NASDAQ:BIDU): The stock opened at $161.21 on Wednesday but the bulls could not build on the opening and the stock topped out at $161.79 for the day. The stock traded down to $159.50 during the day, due to lack of any buying support eventually closed down at $160.65 with a loss of -0.34% for the day. The stock had closed at $161.19 on the previous day. The total traded volume was 3,332,684 shares.
The stock has recorded a 20-day Moving Average of 1.34% and the 50-Day Moving Average is 3.69%.
Baidu, Inc. (Baidu) is a Chinese-language Internet search provider (ISP). Baidu serves three types of online participants, which include users, customers and Baidu Union Members. The Company offers a Chinese-language search platform on its Website, Baidu.com. It provides Chinese-language Internet search services to enable users to find relevant information online, including Web pages, news, images, documents and multimedia files, through links provided on its Websites. It designs and delivers its online marketing services primarily on its Baidu.com Website to its online marketing customers. As of December 31, 2014 the Company had approximately 813,000 active online marketing customers. Its online marketing customers consist of small and medium enterprises (SMEs) throughout China, domestic companies and Chinese divisions or subsidiaries of multinational companies.