iQIYI (NASDAQ:IQ) Trading Down 2.5%

iQIYI, Inc. (NASDAQ:IQ) shares fell 2.5% during mid-day trading on Friday . The stock traded as low as $3.98 and last traded at $3.98. 2,695,511 shares changed hands during trading, a decline of 70% from the average session volume of 8,977,574 shares. The stock had previously closed at $4.08.

Analysts Set New Price Targets

IQ has been the topic of a number of recent research reports. Benchmark reaffirmed a “buy” rating and set a $9.00 price objective on shares of iQIYI in a report on Friday, May 17th. OTR Global reaffirmed a “mixed” rating on shares of iQIYI in a report on Thursday, April 4th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $6.18.

iQIYI Stock Down 2.0 %

The firm’s 50-day simple moving average is $4.39 and its 200 day simple moving average is $4.19. The company has a market cap of $3.84 billion, a P/E ratio of 14.57, a PEG ratio of 0.29 and a beta of 0.07. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.60 and a current ratio of 0.60.

iQIYI (NASDAQ:IQ) last released its quarterly earnings data on Thursday, May 16th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.04. iQIYI had a net margin of 6.23% and a return on equity of 17.57%. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.09 billion. On average, research analysts forecast that iQIYI, Inc. will post 0.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On iQIYI

A number of large investors have recently modified their holdings of IQ. California State Teachers Retirement System grew its holdings in iQIYI by 2.4% during the first quarter. California State Teachers Retirement System now owns 127,426 shares of the company’s stock worth $539,000 after purchasing an additional 2,950 shares during the period. Ballentine Partners LLC grew its holdings in iQIYI by 65.0% during the first quarter. Ballentine Partners LLC now owns 18,317 shares of the company’s stock worth $77,000 after purchasing an additional 7,219 shares during the period. abrdn plc grew its holdings in iQIYI by 6.6% during the fourth quarter. abrdn plc now owns 127,539 shares of the company’s stock worth $622,000 after purchasing an additional 7,932 shares during the period. DNB Asset Management AS grew its holdings in iQIYI by 45.0% during the second quarter. DNB Asset Management AS now owns 37,616 shares of the company’s stock worth $138,000 after purchasing an additional 11,679 shares during the period. Finally, Raymond James Financial Services Advisors Inc. bought a new position in iQIYI during the fourth quarter worth about $61,000. 52.69% of the stock is currently owned by institutional investors and hedge funds.

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.