iQIYI, Inc. (NASDAQ:IQ) Given Average Rating of “Reduce” by Brokerages

Shares of iQIYI, Inc. (NASDAQ:IQ) have been given an average rating of “Reduce” by the five analysts that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $3.15.

IQ has been the subject of several recent research reports. Benchmark reissued a “hold” rating on shares of iQIYI in a research report on Friday, November 22nd. Nomura Securities upgraded iQIYI to a “hold” rating in a report on Monday, August 26th. JPMorgan Chase & Co. reduced their price objective on iQIYI from $2.50 to $1.80 and set a “neutral” rating on the stock in a research note on Friday, November 22nd. Finally, The Goldman Sachs Group downgraded iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 target price for the company. in a research report on Tuesday, August 27th.

iQIYI Stock Performance

Shares of IQ stock opened at $2.05 on Friday. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 10.25, a price-to-earnings-growth ratio of 0.60 and a beta of 0.02. The company has a 50 day moving average price of $2.31 and a 200 day moving average price of $2.85. iQIYI has a one year low of $1.89 and a one year high of $5.80. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.45 and a current ratio of 0.45.

Institutional Investors Weigh In On iQIYI

Institutional investors and hedge funds have recently bought and sold shares of the business. Garden State Investment Advisory Services LLC bought a new position in iQIYI during the 3rd quarter worth $835,000. BNP Paribas Financial Markets grew its position in shares of iQIYI by 77.1% during the third quarter. BNP Paribas Financial Markets now owns 1,871,931 shares of the company’s stock worth $5,354,000 after acquiring an additional 815,226 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of iQIYI by 13.5% during the second quarter. Dimensional Fund Advisors LP now owns 5,846,420 shares of the company’s stock worth $21,443,000 after acquiring an additional 694,349 shares during the last quarter. Genesis Investment Management LLP increased its holdings in shares of iQIYI by 112.1% in the 3rd quarter. Genesis Investment Management LLP now owns 16,582,183 shares of the company’s stock worth $47,425,000 after acquiring an additional 8,765,711 shares during the period. Finally, SG Americas Securities LLC lifted its position in iQIYI by 8,351.7% in the 3rd quarter. SG Americas Securities LLC now owns 1,005,249 shares of the company’s stock valued at $2,875,000 after purchasing an additional 993,355 shares during the last quarter. Institutional investors and hedge funds 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.