iQIYI (NASDAQ:IQ) Upgraded at Hsbc Global Res

Hsbc Global Res upgraded shares of iQIYI (NASDAQ:IQ) from a moderate sell rating to a hold rating in a research note issued to investors on Thursday morning,Zacks.com reports.

A number of other research firms also recently weighed in on IQ. Benchmark reaffirmed a “hold” rating on shares of iQIYI in a research note on Friday, November 22nd. OTR Global reiterated a “negative” rating on shares of iQIYI in a report on Wednesday, January 8th. Citigroup decreased their price objective on shares of iQIYI from $3.00 to $2.80 and set a “buy” rating for the company in a report on Thursday. JPMorgan Chase & Co. decreased their price objective on shares of iQIYI from $2.50 to $1.80 and set a “neutral” rating for the company in a report on Friday, November 22nd. Finally, HSBC upgraded shares of iQIYI from a “reduce” rating to a “hold” rating and set a $2.15 price objective for the company in a report on Thursday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, iQIYI presently has an average rating of “Hold” and an average target price of $2.91.

iQIYI Price Performance

Shares of NASDAQ:IQ opened at $1.94 on Thursday. iQIYI has a 12-month low of $1.82 and a 12-month high of $5.80. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.65. The company has a market cap of $1.86 billion, a P/E ratio of 9.70, a price-to-earnings-growth ratio of 1.99 and a beta of 0.02. The company’s fifty day moving average is $2.10 and its two-hundred day moving average is $2.56.

Hedge Funds Weigh In On iQIYI

Hedge funds and other institutional investors have recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ acquired a new stake in iQIYI in the 2nd quarter valued at $31,000. Ground Swell Capital LLC acquired a new stake in iQIYI in the 3rd quarter valued at $32,000. Flow Traders U.S. LLC acquired a new stake in iQIYI in the 3rd quarter valued at $32,000. Seven Eight Capital LP acquired a new stake in iQIYI in the 2nd quarter valued at $42,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in iQIYI in the 2nd quarter valued at $46,000. 52.69% of the stock is owned by 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.