iQIYI (NASDAQ:IQ) Trading Up 4.5%

Shares of iQIYI, Inc. (NASDAQ:IQ) shot up 4.5% during mid-day trading on Monday . The stock traded as high as $3.26 and last traded at $3.26. 1,691,487 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 8,827,536 shares. The stock had previously closed at $3.12.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on IQ. Hsbc Global Res cut shares of iQIYI from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, July 23rd. Benchmark decreased their price objective on shares of iQIYI from $9.00 to $5.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. JPMorgan Chase & Co. reduced their price objective on shares of iQIYI from $5.00 to $3.00 and set a “neutral” rating for the company in a research note on Tuesday, July 23rd. Finally, HSBC lowered shares of iQIYI from a “hold” rating to a “reduce” rating and lowered their price objective for the company from $4.70 to $3.00 in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, iQIYI currently has a consensus rating of “Hold” and an average target price of $3.67.

iQIYI Stock Down 5.2 %

The firm’s 50-day moving average price is $3.67 and its 200-day moving average price is $4.02. The company has a market cap of $3.00 billion, a price-to-earnings ratio of 11.46, a price-to-earnings-growth ratio of 0.42 and a beta of 0.08. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.60 and a quick ratio of 0.60.

iQIYI (NASDAQ:IQ) last released its quarterly earnings results on Thursday, May 16th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.04. iQIYI had a net margin of 6.23% and a return on equity of 17.57%. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.09 billion. Sell-side analysts forecast that iQIYI, Inc. will post 0.28 earnings per share for the current fiscal year.

Institutional Trading of iQIYI

A number of large investors have recently made changes to their positions in IQ. Skandinaviska Enskilda Banken AB publ bought a new position in iQIYI in the second quarter valued at approximately $31,000. Seven Eight Capital LP bought a new stake in iQIYI in the 2nd quarter worth about $42,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of iQIYI during the 2nd quarter valued at approximately $46,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of iQIYI during the 4th quarter valued at approximately $61,000. Finally, Ballentine Partners LLC lifted its stake in iQIYI by 65.0% in the 1st quarter. Ballentine Partners LLC now owns 18,317 shares of the company’s stock worth $77,000 after purchasing an additional 7,219 shares in the last quarter. Institutional investors 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.