iQIYI, Inc. (NASDAQ:IQ – Get Free Report)’s stock price hit a new 52-week low during trading on Wednesday after Hsbc Global Res downgraded the stock from a hold rating to a moderate sell rating. The company traded as low as $3.05 and last traded at $3.05, with a volume of 5789681 shares changing hands. The stock had previously closed at $3.16.
Other analysts have also issued research reports about the company. Benchmark reiterated a “buy” rating and issued a $9.00 price target on shares of iQIYI in a report on Friday, May 17th. JPMorgan Chase & Co. decreased their price objective on iQIYI from $5.00 to $3.00 and set a “neutral” rating for the company in a report on Tuesday. HSBC cut shares of iQIYI from a “hold” rating to a “reduce” rating and dropped their target price for the stock from $4.70 to $3.00 in a report on Tuesday. Finally, OTR Global restated a “mixed” rating on shares of iQIYI in a report on Thursday, April 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, iQIYI currently has a consensus rating of “Hold” and an average target price of $5.03.
Institutional Investors Weigh In On iQIYI
Several hedge funds have recently added to or reduced their stakes in IQ. Vanguard Group Inc. grew its stake in shares of iQIYI by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 17,586,474 shares of the company’s stock worth $83,360,000 after purchasing an additional 269,491 shares during the period. SG Americas Securities LLC grew its position in iQIYI by 80.6% during the fourth quarter. SG Americas Securities LLC now owns 587,980 shares of the company’s stock valued at $2,869,000 after buying an additional 262,461 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new position in iQIYI in the fourth quarter valued at $61,000. Ballentine Partners LLC purchased a new stake in shares of iQIYI during the 4th quarter worth about $54,000. Finally, DGS Capital Management LLC boosted its stake in shares of iQIYI by 111.1% during the 4th quarter. DGS Capital Management LLC now owns 26,517 shares of the company’s stock worth $129,000 after acquiring an additional 13,958 shares in the last quarter. 52.69% of the stock is owned by hedge funds and other institutional investors.
iQIYI Price Performance
The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of 11.21, a PEG ratio of 0.25 and a beta of 0.07. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.68. The stock has a 50-day moving average price of $4.17 and a 200 day moving average price of $4.11.
iQIYI (NASDAQ:IQ – Get Free Report) last issued its quarterly earnings data on Thursday, May 16th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.06 by $0.04. iQIYI had a return on equity of 17.57% and a net margin of 6.23%. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.09 billion. As a group, equities research analysts expect that iQIYI, Inc. will post 0.38 earnings per share for the current year.
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.