iQIYI (NASDAQ:IQ) Stock Price Up 6.7%

iQIYI, Inc. (NASDAQ:IQ) shares traded up 6.7% on Monday . The company traded as high as $2.25 and last traded at $2.24. 3,462,896 shares traded hands during trading, a decline of 62% from the average session volume of 9,217,965 shares. The stock had previously closed at $2.10.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. The Goldman Sachs Group lowered 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. JPMorgan Chase & Co. dropped 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. Benchmark lowered shares of iQIYI from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. HSBC downgraded shares of iQIYI from a “hold” rating to a “reduce” rating and dropped their target price for the stock from $4.70 to $3.00 in a research note on Tuesday, July 23rd. Finally, Nomura Securities raised shares of iQIYI to a “hold” rating in a report on Monday, August 26th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat, iQIYI currently has an average rating of “Hold” and an average price target of $3.45.

iQIYI Stock Performance

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 firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of 7.93, a PEG ratio of 0.46 and a beta of 0.05. The firm’s 50 day simple moving average is $2.76 and its 200 day simple moving average is $3.79.

iQIYI (NASDAQ:IQ) last issued its quarterly earnings results on Thursday, August 22nd. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.05). iQIYI had a return on equity of 14.57% and a net margin of 5.37%. The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the previous year, the firm posted $0.05 EPS. Sell-side analysts forecast that iQIYI, Inc. will post 0.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On iQIYI

A number of hedge funds have recently modified their holdings of the business. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of iQIYI during the 2nd quarter worth $31,000. Seven Eight Capital LP acquired a new position in iQIYI in the 2nd quarter valued at about $42,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of iQIYI during the 2nd quarter valued at about $46,000. Ballentine Partners LLC increased its stake in shares of iQIYI by 65.0% during the 1st 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 last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of iQIYI by 59.9% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,954 shares of the company’s stock worth $81,000 after purchasing an additional 8,225 shares during the period. 52.69% of the stock is currently owned by hedge funds and other 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.