Alibaba Group (NYSE:BABA) Stock Price Down 1.6% – Here’s Why

by · The Markets Daily

Shares of Alibaba Group Holding Limited (NYSE:BABA – Get Free Report) were down 1.6% on Wednesday . The company traded as low as $146.75 and last traded at $146.9290. Approximately 7,971,232 shares traded hands during trading, a decline of 60% from the average daily volume of 19,960,322 shares. The stock had previously closed at $149.29.

Wall Street Analyst Weigh In

BABA has been the subject of several research analyst reports. Robert W. Baird lifted their price objective on Alibaba Group from $153.00 to $174.00 and gave the company an “outperform” rating in a research report on Wednesday, September 24th. JPMorgan Chase & Co. lowered their target price on Alibaba Group from $240.00 to $230.00 and set an “overweight” rating for the company in a research note on Wednesday, November 26th. Citigroup upped their price target on shares of Alibaba Group from $218.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, November 26th. Nomura increased their price objective on shares of Alibaba Group from $170.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. Finally, Mizuho set a $195.00 target price on shares of Alibaba Group in a research note on Wednesday, October 22nd. Seventeen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $194.00.

Check Out Our Latest Stock Analysis on Alibaba Group

Alibaba Group Stock Performance

The firm has a fifty day moving average of $163.22 and a 200-day moving average of $141.96. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.23. The firm has a market cap of $350.59 billion, a P/E ratio of 20.29, a PEG ratio of 2.30 and a beta of 0.33.

Institutional Investors Weigh In On Alibaba Group

A number of institutional investors and hedge funds have recently modified their holdings of the business. Summit Securities Group LLC grew its holdings in Alibaba Group by 100.3% during the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 59,000 shares during the period. Ransom Advisory Ltd bought a new position in shares of Alibaba Group in the 1st quarter worth $26,000. 1248 Management LLC acquired a new stake in shares of Alibaba Group during the first quarter worth $26,000. Rosenberg Matthew Hamilton bought a new stake in Alibaba Group in the second quarter valued at about $26,000. Finally, Ameriflex Group Inc. increased its holdings in Alibaba Group by 101.4% in the third quarter. Ameriflex Group Inc. now owns 143 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 72 shares during the last quarter. 13.47% of the stock is owned by institutional investors.

Alibaba Group Company Profile

(Get Free Report)

Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. The company operates through seven segments: China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, and Innovation Initiatives and Others.

Further Reading