iQIYI (NASDAQ:IQ) Trading 6.3% Higher

iQIYI, Inc. (NASDAQ:IQ)’s stock price shot up 6.3% during mid-day trading on Tuesday . The company traded as high as $2.10 and last traded at $2.10. 1,599,376 shares traded hands during trading, a decline of 83% from the average session volume of 9,242,884 shares. The stock had previously closed at $1.97.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. dropped their target price on iQIYI from $5.00 to $3.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 23rd. Benchmark cut shares of iQIYI from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Nomura Securities upgraded shares of iQIYI to a “hold” rating in a research report on Monday, August 26th. HSBC cut shares of iQIYI from a “hold” rating to a “reduce” rating and decreased their target price for the stock from $4.70 to $3.00 in a research report on Tuesday, July 23rd. Finally, The Goldman Sachs Group cut iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 price target on the stock. in a report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $3.45.

iQIYI Price Performance

The business has a 50-day simple moving average of $2.84 and a two-hundred day simple moving average of $3.81. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of 7.36, a P/E/G ratio of 0.46 and a beta of 0.05.

iQIYI (NASDAQ:IQ) last issued its earnings results on Thursday, August 22nd. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.05). The company had revenue of $1.03 billion during 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 firm earned $0.05 earnings per share. As a group, research analysts predict that iQIYI, Inc. will post 0.16 earnings per share for the current fiscal year.

Institutional Trading of iQIYI

A number of institutional investors have recently added to or reduced their stakes in IQ. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of iQIYI in the second quarter worth about $31,000. Seven Eight Capital LP acquired a new stake in iQIYI in the 2nd quarter worth approximately $42,000. Vanguard Personalized Indexing Management LLC bought a new stake in iQIYI during the second quarter worth approximately $46,000. Ballentine Partners LLC boosted its position 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. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in iQIYI by 59.9% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,954 shares of the company’s stock valued at $81,000 after purchasing an additional 8,225 shares during the last quarter. 52.69% of the stock is currently owned by institutional investors and hedge funds.

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.