iQIYI (NASDAQ:IQ) Hits New 52-Week Low at $1.93

iQIYI, Inc. (NASDAQ:IQ)’s stock price reached a new 52-week low on Monday . The stock traded as low as $1.93 and last traded at $1.93, with a volume of 1714528 shares trading hands. The stock had previously closed at $1.97.

Analyst Ratings Changes

A number of brokerages recently commented on IQ. Hsbc Global Res downgraded iQIYI from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. dropped their price objective on iQIYI from $5.00 to $3.00 and set a “neutral” rating for the company in a research note on Tuesday, July 23rd. The Goldman Sachs Group cut iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 target price for the company. in a research note on Tuesday, August 27th. Benchmark downgraded iQIYI from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Finally, Nomura Securities raised iQIYI to a “hold” rating in a report on Monday, August 26th. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat, iQIYI currently has an average rating of “Hold” and an average target price of $3.45.

iQIYI Price Performance

The stock has a market cap of $1.98 billion, a price-to-earnings ratio of 7.36, a price-to-earnings-growth ratio of 0.46 and a beta of 0.05. The company’s 50-day moving average is $2.88 and its 200-day moving average is $3.82. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.67.

iQIYI (NASDAQ:IQ) last issued its quarterly earnings data on Thursday, August 22nd. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.05). The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.02 billion. iQIYI had a return on equity of 14.57% and a net margin of 5.37%. During the same quarter in the previous year, the business earned $0.05 earnings per share. Equities research analysts expect that iQIYI, Inc. will post 0.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On iQIYI

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IQ. Quarry LP bought a new position in shares of iQIYI in the second quarter worth about $18,075,000. SIH Partners LLLP acquired a new stake in shares of iQIYI in the 2nd quarter worth $117,000. Scientech Research LLC acquired a new stake in shares of iQIYI in the 2nd quarter worth $495,000. The Manufacturers Life Insurance Company raised its stake in iQIYI by 185.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,126,099 shares of the company’s stock worth $7,803,000 after acquiring an additional 1,381,265 shares during the last quarter. Finally, MBB Public Markets I LLC purchased a new position in shares of iQIYI during the 2nd quarter valued at about $142,000. Institutional investors own 52.69% of the company’s stock.

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.