iQIYI (NASDAQ:IQ) Given New $1.80 Price Target at JPMorgan Chase & Co.

iQIYI (NASDAQ:IQ) had its target price cut by JPMorgan Chase & Co. from $2.50 to $1.80 in a research report sent to investors on Friday,Benzinga reports. They currently have a neutral rating on the stock.

IQ has been the topic of a number of other research reports. Nomura Securities upgraded iQIYI to a “hold” rating in a research note on Monday, August 26th. The Goldman Sachs Group downgraded iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 target price on the stock. in a research note on Tuesday, August 27th. Finally, Benchmark restated a “hold” rating on shares of iQIYI in a research note on Friday. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $3.15.

iQIYI Stock Up 6.7 %

iQIYI stock opened at $2.08 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.45 and a current ratio of 0.45. The business’s 50-day simple moving average is $2.47 and its two-hundred day simple moving average is $3.20. The company has a market cap of $2.00 billion, a PE ratio of 10.40, a PEG ratio of 0.53 and a beta of 0.08. iQIYI has a fifty-two week low of $1.89 and a fifty-two week high of $5.80.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Genesis Investment Management LLP increased its stake in iQIYI by 112.1% during the third 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 last quarter. Quarry LP acquired a new position in shares of iQIYI in the 2nd quarter valued at $18,075,000. Maple Rock Capital Partners Inc. lifted its stake in shares of iQIYI by 65.4% in the 1st quarter. Maple Rock Capital Partners Inc. now owns 10,320,000 shares of the company’s stock valued at $43,654,000 after purchasing an additional 4,080,000 shares during the last quarter. Federated Hermes Inc. lifted its stake in shares of iQIYI by 18.9% in the 2nd quarter. Federated Hermes Inc. now owns 16,057,035 shares of the company’s stock valued at $58,929,000 after purchasing an additional 2,549,287 shares during the last quarter. Finally, Monolith Management Ltd acquired a new position in iQIYI in the third quarter valued at about $4,576,000. 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.