Shares of iQIYI, Inc. (NASDAQ:IQ – Get Free Report) traded up 7.2% during trading on Wednesday . The company traded as high as $3.90 and last traded at $3.89. 5,723,669 shares traded hands during trading, a decline of 36% from the average session volume of 8,971,638 shares. The stock had previously closed at $3.63.
Analysts Set New Price Targets
IQ has been the subject of several recent analyst reports. Benchmark reiterated a “buy” rating and issued a $9.00 price objective on shares of iQIYI in a report on Friday, May 17th. OTR Global reaffirmed a “mixed” rating on shares of iQIYI in a research note on Thursday, April 4th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $6.18.
iQIYI Stock Performance
The firm’s 50-day moving average price is $4.53 and its two-hundred day moving average price is $4.22. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $3.73 billion, a PE ratio of 13.89, a P/E/G ratio of 0.27 and a beta of 0.08.
iQIYI (NASDAQ:IQ – Get Free Report) last announced its quarterly earnings data on Thursday, May 16th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.04. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.09 billion. iQIYI had a net margin of 6.23% and a return on equity of 17.57%. As a group, research analysts predict that iQIYI, Inc. will post 0.38 earnings per share for the current fiscal year.
Institutional Investors Weigh In On iQIYI
Several hedge funds have recently made changes to their positions in IQ. Invesco Ltd. raised its stake in shares of iQIYI by 301.7% in the 3rd quarter. Invesco Ltd. now owns 2,082,326 shares of the company’s stock valued at $9,870,000 after buying an additional 1,564,006 shares in the last quarter. SCEP Management Ltd grew its position in iQIYI by 22.3% during the 3rd quarter. SCEP Management Ltd now owns 15,000,000 shares of the company’s stock worth $71,100,000 after acquiring an additional 2,731,681 shares during the last quarter. Penserra Capital Management LLC increased its stake in shares of iQIYI by 8.3% in the third quarter. Penserra Capital Management LLC now owns 567,491 shares of the company’s stock valued at $2,689,000 after buying an additional 43,300 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of iQIYI by 1.6% in the third quarter. Vanguard Group Inc. now owns 17,586,474 shares of the company’s stock worth $83,360,000 after acquiring an additional 269,491 shares during the last quarter. Finally, Nordea Investment Management AB raised its position in iQIYI by 10.2% in the 4th quarter. Nordea Investment Management AB now owns 427,751 shares of the company’s stock worth $2,115,000 after purchasing an additional 39,485 shares during the last quarter. Institutional investors own 52.69% of the company’s stock.
About iQIYI
iQIYI, Inc, together with its subsidiaries, provides online entertainment video services in the People’s Republic of China. It offers various products and services, including online video, online games, online literature, animations, and other products. The company operates a platform that provides a collection of internet video content, such as professionally produced content licensed from professional content providers and self-produced content.