iQIYI (NASDAQ:IQ) Hits New 1-Year Low – Here’s What Happened

iQIYI, Inc. (NASDAQ:IQ)’s stock price reached a new 52-week low on Friday . The company traded as low as $1.76 and last traded at $1.79, with a volume of 58316186 shares changing hands. The stock had previously closed at $2.09.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. OTR Global reaffirmed a “negative” rating on shares of iQIYI in a research report on Wednesday, January 8th. HSBC raised iQIYI from a “reduce” rating to a “hold” rating and set a $2.15 price objective on the stock in a research note on Thursday, January 16th. Hsbc Global Res upgraded shares of iQIYI from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 16th. Citigroup cut their price target on shares of iQIYI from $3.00 to $2.80 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Finally, Benchmark reaffirmed a “hold” rating on shares of iQIYI in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, iQIYI has a consensus rating of “Hold” and a consensus price target of $2.91.

iQIYI Stock Down 13.4 %

The company has a market cap of $1.74 billion, a price-to-earnings ratio of 18.10, a price-to-earnings-growth ratio of 4.13 and a beta of -0.18. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.45 and a current ratio of 0.44. The stock’s fifty day moving average is $2.27 and its two-hundred day moving average is $2.28.

iQIYI (NASDAQ:IQ) last released its quarterly earnings results on Tuesday, February 18th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. iQIYI had a return on equity of 7.62% and a net margin of 2.62%. The business had revenue of $919.56 million during the quarter, compared to analyst estimates of $6.62 billion. Sell-side analysts predict that iQIYI, Inc. will post 0.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On iQIYI

Several hedge funds have recently modified their holdings of IQ. Flow Traders U.S. LLC purchased a new position in shares of iQIYI in the 3rd quarter worth about $32,000. SBI Securities Co. Ltd. purchased a new stake in shares of iQIYI during the 4th quarter valued at $32,000. Vident Advisory LLC bought a new position in iQIYI in the fourth quarter valued at $33,000. PDS Planning Inc purchased a new position in shares of iQIYI in the 4th quarter worth about $35,000. Finally, BTG Pactual Asset Management US LLC bought a new stake in iQIYI in the 4th quarter worth approximately $37,000. 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.