Shares of iQIYI, Inc. (NASDAQ:IQ – Get Free Report) rose 6.7% during mid-day trading on Monday . The stock traded as high as $2.25 and last traded at $2.24. Approximately 3,462,896 shares were traded during trading, a decline of 62% from the average daily volume of 9,217,965 shares. The stock had previously closed at $2.10.
Analyst Ratings Changes
IQ has been the subject of a number of analyst reports. HSBC downgraded shares of iQIYI from a “hold” rating to a “reduce” rating and dropped their price target for the company from $4.70 to $3.00 in a research report on Tuesday, July 23rd. The Goldman Sachs Group downgraded shares of iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 price target for the company. in a research report on Tuesday, August 27th. Hsbc Global Res downgraded shares of iQIYI from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, July 23rd. Nomura Securities raised shares of iQIYI to a “hold” rating in a research note on Monday, August 26th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of iQIYI from $5.00 to $3.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 23rd. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $3.45.
iQIYI Stock Performance
The company’s 50 day moving average price is $2.76 and its 200-day moving average price is $3.79. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.53 and a current ratio of 0.53. The company has a market cap of $2.04 billion, a PE ratio of 7.93, a price-to-earnings-growth ratio of 0.46 and a beta of 0.05.
iQIYI (NASDAQ:IQ – Get Free Report) last released its quarterly earnings data on Thursday, August 22nd. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.05). The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.02 billion. iQIYI had a return on equity of 14.57% and a net margin of 5.37%. During the same period last year, the business posted $0.05 earnings per share. Equities research analysts anticipate that iQIYI, Inc. will post 0.16 earnings per share for the current fiscal year.
Institutional Trading of iQIYI
A number of hedge funds have recently made changes to their positions in IQ. California State Teachers Retirement System increased its position in shares of iQIYI by 2.4% in the first quarter. California State Teachers Retirement System now owns 127,426 shares of the company’s stock valued at $539,000 after acquiring an additional 2,950 shares during the period. Ballentine Partners LLC increased its position in shares of iQIYI by 65.0% in the first quarter. Ballentine Partners LLC now owns 18,317 shares of the company’s stock valued at $77,000 after acquiring an additional 7,219 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of iQIYI by 59.9% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,954 shares of the company’s stock valued at $81,000 after acquiring an additional 8,225 shares during the period. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of iQIYI in the second quarter valued at about $31,000. Finally, Sei Investments Co. increased its position in shares of iQIYI by 10.1% in the second quarter. Sei Investments Co. now owns 112,270 shares of the company’s stock valued at $412,000 after acquiring an additional 10,342 shares during the period. 52.69% of the stock is owned by institutional investors.
iQIYI Company Profile
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.