iQIYI, Inc. (NASDAQ:IQ) Sees Large Decrease in Short Interest

iQIYI, Inc. (NASDAQ:IQ) was the target of a significant decline in short interest in the month of June. As of June 15th, there was short interest totalling 57,180,000 shares, a decline of 9.0% from the May 31st total of 62,860,000 shares. Approximately 10.9% of the company’s shares are short sold. Based on an average daily trading volume, of 9,120,000 shares, the short-interest ratio is presently 6.3 days.

Analyst Ratings Changes

IQ has been the subject of a number of research reports. OTR Global reiterated a “mixed” rating on shares of iQIYI in a report on Thursday, April 4th. Benchmark reiterated a “buy” rating and issued a $9.00 price target on shares of iQIYI in a report on Friday, May 17th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $6.18.

iQIYI Stock Up 6.9 %

Shares of IQ stock traded up $0.25 during trading hours on Wednesday, reaching $3.88. 5,228,955 shares of the company’s stock were exchanged, compared to its average volume of 8,975,610. The stock’s 50 day moving average is $4.54 and its 200-day moving average is $4.22. The company has a market cap of $3.72 billion, a price-to-earnings ratio of 13.68, a P/E/G ratio of 0.27 and a beta of 0.08. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.68. iQIYI has a fifty-two week low of $3.06 and a fifty-two week high of $6.47.

iQIYI (NASDAQ:IQ) last issued its quarterly earnings results on Thursday, May 16th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.04. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.09 billion. iQIYI had a return on equity of 17.57% and a net margin of 6.23%. Analysts predict that iQIYI will post 0.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On iQIYI

Several hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System increased its position in shares of iQIYI by 2.4% in the 1st quarter. California State Teachers Retirement System now owns 127,426 shares of the company’s stock valued at $539,000 after acquiring an additional 2,950 shares during the period. Ballentine Partners LLC boosted its holdings in iQIYI by 65.0% in the first quarter. Ballentine Partners LLC now owns 18,317 shares of the company’s stock valued at $77,000 after purchasing an additional 7,219 shares during the last quarter. abrdn plc boosted its holdings in iQIYI by 6.6% in the fourth quarter. abrdn plc now owns 127,539 shares of the company’s stock valued at $622,000 after purchasing an additional 7,932 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in iQIYI in the fourth quarter valued at $61,000. Finally, Tower Research Capital LLC TRC boosted its holdings in iQIYI by 321.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 17,585 shares of the company’s stock valued at $86,000 after purchasing an additional 13,417 shares during the last quarter. 52.69% of the stock is owned by institutional investors and hedge funds.

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.