HSBC Upgrades iQIYI (NASDAQ:IQ) to Hold

iQIYI (NASDAQ:IQ) was upgraded by research analysts at HSBC from a “reduce” rating to a “hold” rating in a research report issued on Thursday, MarketBeat.com reports. The firm currently has a $2.15 target price on the stock. HSBC’s price objective suggests a potential upside of 10.82% from the company’s current price.

A number of other analysts have also issued reports on the company. Benchmark reiterated a “hold” rating on shares of iQIYI in a report on Friday, November 22nd. OTR Global reaffirmed a “negative” rating on shares of iQIYI in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. dropped their price target on iQIYI from $2.50 to $1.80 and set a “neutral” rating on the stock in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $2.91.

iQIYI Trading Up 3.7 %

Shares of IQ opened at $1.94 on Thursday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.45 and a quick ratio of 0.45. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of 9.70, a PEG ratio of 1.99 and a beta of 0.02. The company has a 50-day moving average of $2.10 and a 200 day moving average of $2.57. iQIYI has a 1-year low of $1.82 and a 1-year high of $5.80.

Institutional Trading of iQIYI

Hedge funds have recently bought and sold shares of the stock. Ballentine Partners LLC purchased a new position in shares of iQIYI in the 4th quarter valued at $47,000. Principal Financial Group Inc. boosted its position in iQIYI by 181.1% during the third quarter. Principal Financial Group Inc. now owns 101,500 shares of the company’s stock valued at $290,000 after purchasing an additional 65,396 shares in the last quarter. Garden State Investment Advisory Services LLC purchased a new position in iQIYI in the third quarter valued at about $835,000. Franklin Resources Inc. grew its stake in iQIYI by 16.0% in the third quarter. Franklin Resources Inc. now owns 173,386 shares of the company’s stock valued at $496,000 after purchasing an additional 23,926 shares during the last quarter. Finally, Tidal Investments LLC bought a new position in iQIYI in the third quarter worth about $164,000. Hedge funds and other institutional investors own 52.69% of the company’s stock.

About iQIYI

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.