iQIYI (NASDAQ:IQ) Shares Gap Up to $2.14

iQIYI, Inc. (NASDAQ:IQ) gapped up before the market opened on Friday . The stock had previously closed at $2.14, but opened at $2.19. iQIYI shares last traded at $2.13, with a volume of 906,196 shares.

Analysts Set New Price Targets

IQ has been the subject of several recent analyst reports. Benchmark cut iQIYI from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Nomura Securities upgraded iQIYI to a “hold” rating in a report on Monday, August 26th. Hsbc Global Res lowered iQIYI from a “hold” rating to a “moderate sell” rating in a report on Tuesday, July 23rd. HSBC lowered iQIYI from a “hold” rating to a “reduce” rating and dropped their target price for the company from $4.70 to $3.00 in a report on Tuesday, July 23rd. Finally, 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 report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat, iQIYI currently has a consensus rating of “Hold” and a consensus target price of $3.45.

iQIYI Stock Down 0.9 %

The stock has a fifty day moving average of $2.80 and a 200 day moving average of $3.80. The firm has a market capitalization of $2.03 billion, a P/E ratio of 7.64, a price-to-earnings-growth ratio of 0.46 and a beta of 0.05. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.53 and a quick ratio of 0.53.

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

Institutional Trading of iQIYI

A number of large investors have recently bought and sold shares of the company. Quarry LP purchased a new stake in iQIYI in the second quarter worth $18,075,000. SIH Partners LLLP purchased a new position in shares of iQIYI in the second quarter valued at $117,000. Scientech Research LLC purchased a new position in shares of iQIYI in the second quarter valued at $495,000. The Manufacturers Life Insurance Company grew its position in shares of iQIYI by 185.4% in the second quarter. The Manufacturers Life Insurance Company now owns 2,126,099 shares of the company’s stock valued at $7,803,000 after purchasing an additional 1,381,265 shares in the last quarter. Finally, MBB Public Markets I LLC purchased a new position in shares of iQIYI in the second quarter valued at $142,000. 52.69% of the stock is owned by hedge funds and other 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.