iQIYI (NASDAQ:IQ) Hits New 52-Week Low at $1.93

iQIYI, Inc. (NASDAQ:IQ)’s share price reached a new 52-week low on Monday . The company traded as low as $1.93 and last traded at $1.93, with a volume of 1714528 shares traded. The stock had previously closed at $1.97.

Analyst Upgrades and Downgrades

IQ has been the subject of several research analyst reports. Nomura Securities upgraded shares of iQIYI to a “hold” rating in a research note on Monday, August 26th. HSBC lowered shares of iQIYI from a “hold” rating to a “reduce” rating and lowered their price target for the company from $4.70 to $3.00 in a research report on Tuesday, July 23rd. Benchmark lowered shares of iQIYI from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. The Goldman Sachs Group downgraded shares of iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 target price on the stock. in a research note on Tuesday, August 27th. Finally, JPMorgan Chase & Co. dropped their price target 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 equities research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $3.45.

iQIYI Stock Performance

The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $1.98 billion, a PE ratio of 7.36, a PEG ratio of 0.46 and a beta of 0.05. The firm’s 50-day simple moving average is $2.88 and its two-hundred day simple moving average is $3.82.

iQIYI (NASDAQ:IQ) last released its quarterly earnings data on Thursday, August 22nd. The company reported $0.01 earnings per share (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 analyst estimates of $1.02 billion. iQIYI had a net margin of 5.37% and a return on equity of 14.57%. During the same period in the previous year, the firm posted $0.05 EPS. On average, equities research analysts expect that iQIYI, Inc. will post 0.16 earnings per share for the current fiscal year.

Institutional Trading of iQIYI

Several large investors have recently added to or reduced their stakes in IQ. Quarry LP acquired a new position in shares of iQIYI during the second quarter worth approximately $18,075,000. SIH Partners LLLP bought a new stake in shares of iQIYI during the second quarter worth $117,000. Scientech Research LLC bought a new stake in shares of iQIYI during the second quarter worth $495,000. The Manufacturers Life Insurance Company grew its position in iQIYI by 185.4% in the second quarter. The Manufacturers Life Insurance Company now owns 2,126,099 shares of the company’s stock valued at $7,803,000 after purchasing an additional 1,381,265 shares in the last quarter. Finally, MBB Public Markets I LLC bought a new position in shares of iQIYI in the 2nd quarter valued at about $142,000. 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.