iQIYI (NASDAQ:IQ) Stock Price Up 5.9%

iQIYI, Inc. (NASDAQ:IQ)’s share price rose 5.9% during mid-day trading on Tuesday . The stock traded as high as $3.05 and last traded at $3.03. Approximately 34,077,317 shares were traded during trading, an increase of 226% from the average daily volume of 10,454,572 shares. The stock had previously closed at $2.86.

Analysts Set New Price Targets

IQ has been the subject of several recent analyst reports. The Goldman Sachs Group cut shares of iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 price objective for the company. in a research report on Tuesday, August 27th. JPMorgan Chase & Co. reduced their price target on shares of iQIYI from $5.00 to $3.00 and set a “neutral” rating for the company in a research report on Tuesday, July 23rd. HSBC cut shares of iQIYI from a “hold” rating to a “reduce” rating and reduced their price target for the company from $4.70 to $3.00 in a research report on Tuesday, July 23rd. Hsbc Global Res cut shares of iQIYI from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, July 23rd. Finally, Nomura Securities raised shares of iQIYI to a “hold” rating in a research report on Monday, August 26th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat, iQIYI has an average rating of “Hold” and a consensus target price of $3.45.

iQIYI Trading Up 5.2 %

The company has a debt-to-equity ratio of 0.67, a current ratio of 0.53 and a quick ratio of 0.53. The business’s 50 day moving average price is $2.63 and its 200-day moving average price is $3.73. The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of 10.21, a price-to-earnings-growth ratio of 0.49 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 for the quarter, missing the consensus estimate of $0.06 by ($0.05). iQIYI had a return on equity of 14.57% and a net margin of 5.37%. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the company posted $0.05 earnings per share. Equities analysts forecast that iQIYI, Inc. will post 0.16 EPS for the current fiscal year.

Institutional Trading of iQIYI

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quarry LP acquired a new stake in shares of iQIYI in the second quarter worth $18,075,000. SIH Partners LLLP acquired a new position in shares of iQIYI during the second quarter valued at $117,000. Scientech Research LLC bought a new position in iQIYI during the second quarter valued at about $495,000. The Manufacturers Life Insurance Company boosted its position in shares of iQIYI by 185.4% in the 2nd 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 during the period. Finally, MBB Public Markets I LLC acquired a new stake in iQIYI during the 2nd quarter worth about $142,000. Hedge funds and other 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.