iQIYI (NASDAQ:IQ) Shares Up 4.3% – What’s Next?

iQIYI, Inc. (NASDAQ:IQ)’s stock price was up 4.3% during mid-day trading on Tuesday . The company traded as high as $2.19 and last traded at $2.18. Approximately 6,310,278 shares changed hands during trading, a decline of 51% from the average daily volume of 12,798,565 shares. The stock had previously closed at $2.09.

Analysts Set New Price Targets

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

iQIYI Trading Down 1.9 %

The company has a fifty day moving average of $2.33 and a 200-day moving average of $2.87. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 10.15, a PEG ratio of 0.60 and a beta of 0.02. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.65.

Institutional Investors Weigh In On iQIYI

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets lifted its stake in iQIYI by 77.1% in the third quarter. BNP Paribas Financial Markets now owns 1,871,931 shares of the company’s stock worth $5,354,000 after acquiring an additional 815,226 shares during the last quarter. Garden State Investment Advisory Services LLC acquired a new position in shares of iQIYI during the third quarter worth $835,000. Dimensional Fund Advisors LP increased its holdings in iQIYI by 13.5% in the second quarter. Dimensional Fund Advisors LP now owns 5,846,420 shares of the company’s stock valued at $21,443,000 after buying an additional 694,349 shares during the last quarter. Genesis Investment Management LLP raised its stake in iQIYI by 112.1% in the third quarter. Genesis Investment Management LLP now owns 16,582,183 shares of the company’s stock valued at $47,425,000 after buying an additional 8,765,711 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of iQIYI by 8,351.7% during the 3rd quarter. SG Americas Securities LLC now owns 1,005,249 shares of the company’s stock worth $2,875,000 after acquiring an additional 993,355 shares in the last quarter. Institutional investors and hedge funds 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.