iQIYI (NASDAQ:IQ) Stock Price Down 5% – Time to Sell?

iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) shares were down 5% during mid-day trading on Tuesday . The stock traded as low as $1.97 and last traded at $1.9850. Approximately 7,691,640 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 24,075,289 shares. The stock had previously closed at $2.09.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on IQ shares. CLSA upgraded shares of iQIYI from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, August 19th. Cfra Research cut shares of iQIYI from a “hold” rating to a “moderate sell” rating in a report on Thursday, August 28th. UBS Group upgraded shares of iQIYI from a “neutral” rating to a “buy” rating and set a $3.32 price target on the stock in a report on Thursday, August 21st. Morgan Stanley set a $2.10 price target on shares of iQIYI in a research report on Wednesday, November 19th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of iQIYI in a research report on Monday. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, iQIYI currently has an average rating of “Hold” and a consensus target price of $2.57.

iQIYI Stock Up 0.5%

The firm has a market cap of $1.96 billion, a P/E ratio of -34.00 and a beta of -0.03. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.75. The business has a 50-day moving average price of $2.24 and a 200-day moving average price of $2.11.

Institutional Investors Weigh In On iQIYI

Hedge funds have recently modified their holdings of the business. DRW Securities LLC bought a new position in iQIYI in the first quarter worth approximately $33,000. HighTower Advisors LLC raised its position in shares of iQIYI by 102.3% in the 1st quarter. HighTower Advisors LLC now owns 15,639 shares of the company’s stock worth $35,000 after acquiring an additional 698,342 shares in the last quarter. SBI Securities Co. Ltd. lifted its stake in shares of iQIYI by 199.7% during the 2nd quarter. SBI Securities Co. Ltd. now owns 45,021 shares of the company’s stock worth $80,000 after purchasing an additional 29,999 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its position in iQIYI by 15,081.2% during the first quarter. Caitong International Asset Management Co. Ltd now owns 44,481 shares of the company’s stock valued at $101,000 after purchasing an additional 44,188 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in iQIYI during the first quarter valued at about $374,000. Hedge funds and other 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.