iQIYI (NASDAQ:IQ) Shares Gap Up – What’s Next?

iQIYI, Inc. (NASDAQ:IQ)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $1.99, but opened at $2.07. iQIYI shares last traded at $2.16, with a volume of 2,439,146 shares traded.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Benchmark reiterated a “hold” rating on shares of iQIYI in a research report on Friday, November 22nd. JPMorgan Chase & Co. lowered their price target on iQIYI from $2.50 to $1.80 and set a “neutral” rating on the stock in a report on Friday, November 22nd. The Goldman Sachs Group lowered iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 price objective for the company. in a report on Tuesday, August 27th. Finally, Nomura Securities raised shares of iQIYI to a “hold” rating in a research note on Monday, August 26th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $3.15.

iQIYI Price Performance

The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $2.08 billion, a PE ratio of 10.80, a PEG ratio of 0.56 and a beta of 0.08. The business has a fifty day moving average price of $2.47 and a 200-day moving average price of $3.16.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Skandinaviska Enskilda Banken AB publ purchased a new stake in iQIYI during the 2nd quarter valued at about $31,000. Ground Swell Capital LLC bought a new stake in iQIYI in the third quarter valued at approximately $32,000. Flow Traders U.S. LLC purchased a new stake in shares of iQIYI during the third quarter valued at approximately $32,000. Seven Eight Capital LP bought a new position in shares of iQIYI in the second quarter worth approximately $42,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in shares of iQIYI in the second quarter worth $46,000. 52.69% of the stock is owned by institutional investors.

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.