Alibaba Group (NYSE:BABA) Trading Down 1.4% After Analyst Downgrade

Alibaba Group Holding Limited (NYSE:BABA)’s share price was down 1.4% during mid-day trading on Tuesday after Arete downgraded the stock from a buy rating to a neutral rating. Arete now has a $172.00 price target on the stock. Alibaba Group traded as low as $154.30 and last traded at $155.9710. Approximately 6,427,233 shares changed hands during trading, a decline of 68% from the average daily volume of 20,239,996 shares. The stock had previously closed at $158.13.

Several other equities analysts have also recently issued reports on the company. Zacks Research cut Alibaba Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Alibaba Group in a report on Wednesday, October 8th. Arete Research set a $172.00 price target on shares of Alibaba Group in a report on Tuesday. Barclays raised their price objective on shares of Alibaba Group from $190.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, November 26th. Finally, Citigroup boosted their target price on shares of Alibaba Group from $218.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, November 26th. Eighteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $194.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Ameriflex Group Inc. boosted its stake in shares of Alibaba Group by 101.4% during the third quarter. Ameriflex Group Inc. now owns 143 shares of the specialty retailer’s stock worth $26,000 after buying an additional 72 shares during the period. Mather Group LLC. acquired a new stake in Alibaba Group during the 3rd quarter worth approximately $30,000. Foster Dykema Cabot & Partners LLC acquired a new stake in Alibaba Group during the 3rd quarter worth approximately $30,000. NBT Bank N A NY grew its stake in shares of Alibaba Group by 231.5% in the 3rd quarter. NBT Bank N A NY now owns 179 shares of the specialty retailer’s stock valued at $32,000 after purchasing an additional 125 shares during the last quarter. Finally, 1248 Management LLC acquired a new position in shares of Alibaba Group in the first quarter valued at approximately $26,000. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Price Performance

The company has a debt-to-equity ratio of 0.23, a current ratio of 1.46 and a quick ratio of 1.46. The company has a 50 day moving average price of $166.83 and a 200 day moving average price of $140.42. The firm has a market cap of $372.16 billion, a PE ratio of 21.54, a PEG ratio of 2.43 and a beta of 0.33.

About Alibaba Group

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.