Alibaba Group (NYSE:BABA) Trading Down 1.1% – Here’s Why

Alibaba Group Holding Limited (NYSE:BABA)’s stock price fell 1.1% during trading on Monday . The company traded as low as $139.05 and last traded at $142.55. 9,360,288 shares traded hands during mid-day trading, a decline of 23% from the average session volume of 12,232,714 shares. The stock had previously closed at $144.11.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on BABA shares. Barclays increased their price objective on Alibaba Group from $190.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, November 26th. Erste Group Bank downgraded Alibaba Group from a “buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Morgan Stanley decreased their price objective on Alibaba Group from $200.00 to $180.00 and set an “overweight” rating for the company in a report on Thursday, January 8th. Citigroup boosted their price objective on Alibaba Group from $218.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, November 26th. Finally, Arete Research upgraded shares of Alibaba Group from a “neutral” rating to a “buy” rating and set a $190.00 target price for the company in a research report on Wednesday, January 21st. Sixteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $195.17.

Alibaba Group Trading Down 1.1%

The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.46 and a current ratio of 1.46. The firm has a market cap of $340.33 billion, a P/E ratio of 19.69, a P/E/G ratio of 3.15 and a beta of 0.39. The firm has a 50 day simple moving average of $159.12 and a 200 day simple moving average of $157.75.

Hedge Funds Weigh In On Alibaba Group

Several hedge funds have recently bought and sold shares of BABA. Ameriflex Group Inc. boosted its holdings in Alibaba Group by 101.4% in the 3rd 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 period. Mather Group LLC. purchased a new stake in shares of Alibaba Group in the third quarter worth $30,000. Foster Dykema Cabot & Partners LLC bought a new stake in Alibaba Group during the third quarter valued at $30,000. NBT Bank N A NY boosted its stake in Alibaba Group by 231.5% during the third quarter. NBT Bank N A NY now owns 179 shares of the specialty retailer’s stock valued at $32,000 after buying an additional 125 shares during the period. Finally, Palisade Asset Management LLC purchased a new position in Alibaba Group during the third quarter worth about $37,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Company Profile

Alibaba Group Holding Limited is a Chinese multinational conglomerate founded in 1999 in Hangzhou, China, by Jack Ma and a group of co‑founders. The company built its business around internet-based commerce and related services and has grown into one of the largest e-commerce and technology companies in the world. Alibaba completed a high‑profile initial public offering on the New York Stock Exchange in 2014.

The company operates a portfolio of online marketplaces and platforms serving different customer segments: Alibaba.com for global and domestic B2B trade, Taobao for consumer-to-consumer shopping, and Tmall for brand and retailer storefronts targeted at Chinese consumers.