Baidu (NASDAQ:BIDU) has tumbled 0.97% during the past week and has dropped 4.33% in the last 4 week period. The company has outperformed the S&P 500 by 0.21% in the past week but underperformed the index by 5.21% in the last 4 weeks.
Baidu (NASDAQ:BIDU): The stock opened at $165.42 on Friday but the bulls could not build on the opening and the stock topped out at $165.84 for the day. The stock traded down to $161.85 during the day, due to lack of any buying support eventually closed down at $162.68 with a loss of -1.72% for the day. The stock had closed at $165.52 on the previous day. The total traded volume was 3,220,723 shares.
The company shares have dropped -22.40% from its 1 Year high price. On Nov 30, 2015, the shares registered one year high at $217.97 and the one year low was seen on Aug 24, 2015. The 50-Day Moving Average price is $171.18 and the 200 Day Moving Average price is recorded at $177.86.
Many analysts have stated their opinion on the company shares. Equity Analysts at the Brokerage Firm, Citigroup, downgrades their rating on the shares of Baidu (NASDAQ:BIDU). Citigroup has a Neutral rating on the shares. Previously, the analysts had a Buy rating on the shares. As per the latest research report, the brokerage house lowers the price target to $180 per share from a prior target of $238. The rating by the firm was issued on June 13, 2016. Institutional Investors own 62.25% of Baidu shares.
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.