iQIYI (NASDAQ:IQ) Trading Up 6.3%

iQIYI, Inc. (NASDAQ:IQ) shares traded up 6.3% during trading on Tuesday . The stock traded as high as $2.10 and last traded at $2.10. 1,599,376 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 9,242,884 shares. The stock had previously closed at $1.97.

Analyst Ratings Changes

Several research analysts have commented on the company. Nomura Securities raised iQIYI to a “hold” rating in a research report on Monday, August 26th. The Goldman Sachs Group downgraded iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 target price on the stock. in a research report on Tuesday, August 27th. Hsbc Global Res lowered iQIYI from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, July 23rd. HSBC downgraded iQIYI from a “hold” rating to a “reduce” rating and reduced their price objective for the stock from $4.70 to $3.00 in a research report on Tuesday, July 23rd. Finally, Benchmark cut iQIYI from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $3.45.

iQIYI Trading Up 0.5 %

The company has a debt-to-equity ratio of 0.67, a current ratio of 0.53 and a quick ratio of 0.53. The business’s 50 day simple moving average is $2.84 and its 200 day simple moving average is $3.81. The stock has a market cap of $1.98 billion, a P/E ratio of 7.36, a PEG ratio of 0.46 and a beta of 0.05.

iQIYI (NASDAQ:IQ) last posted its 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 for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the business earned $0.05 EPS. On average, analysts expect that iQIYI, Inc. will post 0.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On iQIYI

A number of hedge funds and other institutional investors have recently bought and sold shares of IQ. Krane Funds Advisors LLC raised its stake in shares of iQIYI by 2.5% in the fourth quarter. Krane Funds Advisors LLC now owns 19,194,425 shares of the company’s stock worth $93,669,000 after acquiring an additional 467,032 shares during the last quarter. Vanguard Group Inc. raised its position in iQIYI by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 17,756,701 shares of the company’s stock worth $86,653,000 after purchasing an additional 170,227 shares during the last quarter. Federated Hermes Inc. lifted its holdings in iQIYI by 18.9% during the 2nd quarter. Federated Hermes Inc. now owns 16,057,035 shares of the company’s stock worth $58,929,000 after buying an additional 2,549,287 shares in the last quarter. Maple Rock Capital Partners Inc. boosted its position in iQIYI by 65.4% in the 1st quarter. Maple Rock Capital Partners Inc. now owns 10,320,000 shares of the company’s stock valued at $43,654,000 after buying an additional 4,080,000 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of iQIYI in the 4th quarter valued at $49,853,000. 52.69% of the stock is owned by institutional investors and hedge funds.

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.