iQIYI (NASDAQ:IQ) Trading Up 9% – Here’s What Happened

iQIYI, Inc. (NASDAQ:IQ)’s stock price traded up 9% during mid-day trading on Thursday . The company traded as high as $2.30 and last traded at $2.35. 6,020,857 shares traded hands during trading, a decline of 70% from the average session volume of 20,353,893 shares. The stock had previously closed at $2.16.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on IQ shares. Hsbc Global Res raised shares of iQIYI from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 16th. Benchmark reaffirmed a “hold” rating on shares of iQIYI in a research report on Friday, January 24th. HSBC raised iQIYI from a “reduce” rating to a “hold” rating and set a $2.15 price target for the company in a research note on Thursday, January 16th. Citigroup dropped their price objective on iQIYI from $3.00 to $2.80 and set a “buy” rating on the stock in a report on Thursday, January 16th. Finally, JPMorgan Chase & Co. reduced their target price 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $2.91.

iQIYI Stock Down 6.5 %

The stock has a market cap of $2.08 billion, a P/E ratio of 10.85, a PEG ratio of 3.49 and a beta of 0.02. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.65. The business has a 50-day simple moving average of $2.09 and a 200-day simple moving average of $2.44.

iQIYI (NASDAQ:IQ) last posted its earnings results on Thursday, November 21st. The company reported $0.06 earnings per share (EPS) 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 firm posted $0.07 EPS. Analysts expect that iQIYI, Inc. will post 0.14 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Ground Swell Capital LLC acquired a new position in iQIYI in the 3rd quarter valued at approximately $32,000. Flow Traders U.S. LLC acquired a new position in shares of iQIYI in the third quarter valued at $32,000. Ballentine Partners LLC bought a new position in iQIYI in the fourth quarter worth $47,000. HighTower Advisors LLC boosted its stake in iQIYI by 102.9% during the third quarter. HighTower Advisors LLC now owns 19,840 shares of the company’s stock worth $56,000 after buying an additional 701,901 shares in the last quarter. Finally, One Wealth Management Investment & Advisory Services LLC bought a new stake in iQIYI in the 3rd quarter valued at $72,000. 52.69% of the stock is owned by institutional investors.

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.