iQIYI (NASDAQ:IQ) Trading 4.7% Higher – What’s Next?

iQIYI, Inc. (NASDAQ:IQ) was up 4.7% during mid-day trading on Tuesday . The stock traded as high as $2.11 and last traded at $2.12. Approximately 12,665,641 shares changed hands during trading, a decline of 54% from the average daily volume of 27,655,381 shares. The stock had previously closed at $2.02.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Hsbc Global Res upgraded shares of iQIYI from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 16th. HSBC raised shares of iQIYI from a “reduce” rating to a “hold” rating and set a $2.15 target price for the company in a report on Thursday, January 16th. Citigroup dropped their price objective on shares of iQIYI from $3.00 to $2.80 and set a “buy” rating for the company in a report on Thursday, January 16th. Benchmark reiterated a “hold” rating on shares of iQIYI in a report on Wednesday, February 19th. Finally, OTR Global restated a “negative” rating on shares of iQIYI in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, iQIYI currently has an average rating of “Hold” and an average target price of $2.91.

iQIYI Trading Up 5.9 %

The firm’s 50-day moving average is $2.13 and its 200-day moving average is $2.29. The company has a current ratio of 0.44, a quick ratio of 0.45 and a debt-to-equity ratio of 0.70. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of 21.40, a P/E/G ratio of 4.13 and a beta of 0.03.

iQIYI (NASDAQ:IQ) last issued its quarterly earnings data on Tuesday, February 18th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $6.62 billion. As a group, sell-side analysts anticipate that iQIYI, Inc. will post 0.04 EPS for the current fiscal year.

Institutional Investors Weigh In On iQIYI

Several large investors have recently modified their holdings of IQ. Creative Planning grew its stake in iQIYI by 31.5% in the 3rd quarter. Creative Planning now owns 108,280 shares of the company’s stock valued at $310,000 after buying an additional 25,961 shares in the last quarter. Ground Swell Capital LLC purchased a new position in shares of iQIYI in the third quarter valued at about $32,000. Principal Financial Group Inc. increased its position in shares of iQIYI by 181.1% during the third quarter. Principal Financial Group Inc. now owns 101,500 shares of the company’s stock valued at $290,000 after buying an additional 65,396 shares during the period. GSA Capital Partners LLP grew its holdings in iQIYI by 127.2% in the third quarter. GSA Capital Partners LLP now owns 66,789 shares of the company’s stock worth $191,000 after purchasing an additional 37,396 shares during the period. Finally, CloudAlpha Capital Management Limited Hong Kong purchased a new stake in iQIYI in the third quarter worth about $523,000. Hedge funds and other 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.