iQIYI, Inc. (NASDAQ:IQ) Given Average Rating of “Reduce” by Analysts

iQIYI, Inc. (NASDAQ:IQ) has earned an average recommendation of “Reduce” from the five ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and four have issued a hold rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $3.15.

Several research firms have recently issued reports on IQ. JPMorgan Chase & Co. reduced their target price on iQIYI from $2.50 to $1.80 and set a “neutral” rating on the stock in a research note on Friday. The Goldman Sachs Group downgraded shares of iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 price objective on the stock. in a research report on Tuesday, August 27th. Nomura Securities raised shares of iQIYI to a “hold” rating in a research report on Monday, August 26th. Finally, Benchmark reiterated a “hold” rating on shares of iQIYI in a research report on Friday.

iQIYI Trading Up 6.7 %

Shares of IQ opened at $2.08 on Tuesday. The firm has a fifty day simple moving average of $2.47 and a two-hundred day simple moving average of $3.20. The stock has a market capitalization of $2.00 billion, a P/E ratio of 10.40, a PEG ratio of 0.53 and a beta of 0.08. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.65. iQIYI has a twelve month low of $1.89 and a twelve month high of $5.80.

Institutional Trading of iQIYI

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Genesis Investment Management LLP raised its stake in iQIYI by 112.1% during the third quarter. Genesis Investment Management LLP now owns 16,582,183 shares of the company’s stock valued at $47,425,000 after buying an additional 8,765,711 shares during the last quarter. Federated Hermes Inc. raised its position in shares of iQIYI by 18.9% in the 2nd quarter. Federated Hermes Inc. now owns 16,057,035 shares of the company’s stock worth $58,929,000 after purchasing an additional 2,549,287 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in iQIYI by 13.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,846,420 shares of the company’s stock worth $21,443,000 after purchasing an additional 694,349 shares in the last quarter. Quarry LP purchased a new stake in iQIYI during the 2nd quarter valued at about $18,075,000. Finally, Geode Capital Management LLC increased its stake in iQIYI by 3.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,259,673 shares of the company’s stock valued at $9,256,000 after purchasing an additional 112,709 shares in the last quarter. 52.69% of the stock is owned by hedge funds and other institutional investors.

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.