iQIYI (NASDAQ:IQ) Trading Down 4.5% – What’s Next?

iQIYI, Inc. (NASDAQ:IQ)’s stock price fell 4.5% during trading on Friday . The stock traded as low as $2.24 and last traded at $2.22. 2,640,147 shares were traded during mid-day trading, a decline of 87% from the average session volume of 20,620,998 shares. The stock had previously closed at $2.32.

Analyst Upgrades and Downgrades

Several analysts recently commented on IQ shares. HSBC raised shares of iQIYI from a “reduce” rating to a “hold” rating and set a $2.15 target price for the company in a report on Thursday, January 16th. OTR Global reissued a “negative” rating on shares of iQIYI in a report on Wednesday, January 8th. Benchmark reaffirmed a “hold” rating on shares of iQIYI in a report on Friday, January 24th. Hsbc Global Res raised iQIYI from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 16th. Finally, JPMorgan Chase & Co. cut their price objective on shares of iQIYI from $2.50 to $1.80 and set a “neutral” rating for the company in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $2.91.

iQIYI Trading Down 5.4 %

The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 10.93, a P/E/G ratio of 3.49 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 business’s 50 day moving average price is $2.08 and its two-hundred day moving average price is $2.46.

iQIYI (NASDAQ:IQ) last issued its earnings results on Thursday, November 21st. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. iQIYI had a net margin of 4.69% and a return on equity of 13.26%. During the same period last year, the company earned $0.07 EPS. On average, equities analysts predict that iQIYI, Inc. will post 0.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in IQ. Ground Swell Capital LLC bought a new stake in iQIYI in the third quarter valued at approximately $32,000. Flow Traders U.S. LLC acquired a new stake in shares of iQIYI during the third quarter worth $32,000. Ballentine Partners LLC acquired a new position in iQIYI in the fourth quarter valued at $47,000. HighTower Advisors LLC grew its holdings in iQIYI by 102.9% during the 3rd quarter. HighTower Advisors LLC now owns 19,840 shares of the company’s stock worth $56,000 after acquiring an additional 701,901 shares during the period. Finally, One Wealth Management Investment & Advisory Services LLC bought a new position in shares of iQIYI in the 3rd quarter worth about $72,000. Institutional investors and hedge funds 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.