iQIYI (NASDAQ:IQ) Sees Large Volume Increase

iQIYI, Inc. (NASDAQ:IQ) saw unusually-strong trading volume on Tuesday . Approximately 5,076,103 shares traded hands during mid-day trading, a decline of 45% from the previous session’s volume of 9,224,665 shares.The stock last traded at $2.37 and had previously closed at $2.14.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on IQ shares. JPMorgan Chase & Co. lowered their price target on iQIYI from $5.00 to $3.00 and set a “neutral” rating on the stock in a report on Tuesday, July 23rd. HSBC cut iQIYI from a “hold” rating to a “reduce” rating and lowered their price target for the stock from $4.70 to $3.00 in a report on Tuesday, July 23rd. Benchmark cut iQIYI from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Hsbc Global Res cut iQIYI from a “hold” rating to a “moderate sell” rating in a report on Tuesday, July 23rd. Finally, The Goldman Sachs Group cut iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 price objective on the stock. in a report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $3.45.

iQIYI Stock Up 9.8 %

The firm has a market capitalization of $2.25 billion, a PE ratio of 8.39, a PEG ratio of 0.46 and a beta of 0.05. The company has a fifty day moving average price of $2.73 and a 200-day moving average price of $3.78. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.53 and a current ratio of 0.53.

iQIYI (NASDAQ:IQ) last issued 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 firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.02 billion. iQIYI had a return on equity of 14.57% and a net margin of 5.37%. During the same period last year, the company earned $0.05 earnings per share. As a group, analysts expect that iQIYI, Inc. will post 0.16 earnings per share for the current year.

Hedge Funds Weigh In On iQIYI

Several large investors have recently modified their holdings of the stock. Jump Financial LLC bought a new position in iQIYI in the 4th quarter valued at $114,000. Dimensional Fund Advisors LP lifted its holdings in shares of iQIYI by 28.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,370,494 shares of the company’s stock worth $21,320,000 after buying an additional 966,688 shares during the period. Norges Bank purchased a new stake in shares of iQIYI in the 4th quarter worth $49,853,000. Aigen Investment Management LP purchased a new stake in shares of iQIYI in the 4th quarter worth $150,000. Finally, Prudential PLC lifted its holdings in shares of iQIYI by 40.1% in the 4th quarter. Prudential PLC now owns 126,570 shares of the company’s stock worth $618,000 after buying an additional 36,242 shares during the period. Institutional investors own 52.69% of the company’s stock.

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.