iQIYI (NASDAQ:IQ) Reaches New 52-Week Low – What’s Next?

iQIYI, Inc. (NASDAQ:IQ) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $1.92 and last traded at $1.96, with a volume of 6605685 shares. The stock had previously closed at $2.18.

Analyst Ratings Changes

A number of research analysts have recently commented on IQ shares. Benchmark reiterated a “hold” rating on shares of iQIYI in a research report on Friday. Nomura Securities upgraded shares of iQIYI to a “hold” rating in a research report on Monday, August 26th. The Goldman Sachs Group cut shares of iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 price objective for the company. in a research note on Tuesday, August 27th. Finally, JPMorgan Chase & Co. decreased their target price on shares of iQIYI from $2.50 to $1.80 and set a “neutral” rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Based on data from MarketBeat, iQIYI has an average rating of “Hold” and a consensus target price of $3.15.

iQIYI Price Performance

The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $1.87 billion, a PE ratio of 8.08, a price-to-earnings-growth ratio of 0.56 and a beta of 0.08. The firm’s 50 day simple moving average is $2.47 and its 200 day simple moving average is $3.25.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Sei Investments Co. raised its holdings in shares of iQIYI by 23.1% in the 1st quarter. Sei Investments Co. now owns 101,928 shares of the company’s stock valued at $431,000 after purchasing an additional 19,100 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in iQIYI by 62.5% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 130,248 shares of the company’s stock worth $554,000 after buying an additional 50,078 shares during the period. CANADA LIFE ASSURANCE Co boosted its position in iQIYI by 32.9% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 466,189 shares of the company’s stock valued at $1,973,000 after acquiring an additional 115,400 shares in the last quarter. Natixis purchased a new position in shares of iQIYI in the 1st quarter valued at $536,000. Finally, Lazard Asset Management LLC raised its position in shares of iQIYI by 206.5% in the 1st quarter. Lazard Asset Management LLC now owns 1,137,614 shares of the company’s stock worth $4,812,000 after acquiring an additional 766,436 shares in the last quarter. 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.