OTR Global Reiterates Negative Rating for iQIYI (NASDAQ:IQ)

iQIYI (NASDAQ:IQ)‘s stock had its “negative” rating reaffirmed by OTR Global in a research report issued on Wednesday,Benzinga reports.

A number of other research analysts have also recently weighed in on IQ. Benchmark restated a “hold” rating on shares of iQIYI in a research report on Friday, November 22nd. JPMorgan Chase & Co. dropped their price objective on shares of iQIYI from $2.50 to $1.80 and set a “neutral” rating for the company in a research note on Friday, November 22nd. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $3.15.

iQIYI Stock Performance

Shares of iQIYI stock opened at $2.02 on Wednesday. The stock has a market cap of $1.94 billion, a PE ratio of 10.10, a price-to-earnings-growth ratio of 0.58 and a beta of 0.02. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.65. The company has a 50-day moving average of $2.18 and a two-hundred day moving average of $2.65. iQIYI has a 12-month low of $1.89 and a 12-month high of $5.80.

Hedge Funds Weigh In On iQIYI

A number of large investors have recently bought and sold shares of IQ. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of iQIYI during the 2nd quarter worth about $31,000. Flow Traders U.S. LLC purchased a new position in shares of iQIYI in the 3rd quarter valued at $32,000. Ground Swell Capital LLC acquired a new position in shares of iQIYI during the 3rd quarter valued at $32,000. Seven Eight Capital LP acquired a new position in shares of iQIYI during the 2nd quarter valued at $42,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in iQIYI during the 2nd quarter worth $46,000. Hedge funds and other institutional investors own 52.69% of the company’s stock.

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.