iQIYI (NASDAQ:IQ) Sets New 52-Week Low – Here’s What Happened

iQIYI, Inc. Sponsored ADR (NASDAQ:IQ)’s stock price hit a new 52-week low during trading on Thursday . The company traded as low as $1.07 and last traded at $1.0850, with a volume of 1322005 shares. The stock had previously closed at $1.10.

Analyst Ratings Changes

A number of brokerages have commented on IQ. Jefferies Financial Group reissued a “buy” rating and issued a $2.22 price objective on shares of iQIYI in a research note on Thursday, February 26th. Wall Street Zen cut shares of iQIYI from a “hold” rating to a “sell” rating in a research note on Sunday, April 26th. Benchmark reissued a “hold” rating on shares of iQIYI in a research note on Tuesday. Zacks Research raised shares of iQIYI from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 12th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of iQIYI in a research note on Friday, March 27th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $2.55.

iQIYI Stock Down 0.9%

The company’s fifty day moving average price is $1.25 and its 200-day moving average price is $1.71. The stock has a market cap of $1.05 billion, a P/E ratio of -10.90 and a beta of 0.19. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.47 and a current ratio of 0.45.

Institutional Investors Weigh In On iQIYI

Several institutional investors have recently made changes to their positions in the company. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of iQIYI in the 4th quarter worth about $8,488,000. Marshall Wace LLP lifted its holdings in shares of iQIYI by 1,423.3% in the 4th quarter. Marshall Wace LLP now owns 2,811,044 shares of the company’s stock worth $5,397,000 after acquiring an additional 2,626,502 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of iQIYI by 393.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,152,263 shares of the company’s stock worth $4,864,000 after acquiring an additional 1,716,011 shares during the last quarter. Catalyst Funds Management Pty Ltd bought a new stake in shares of iQIYI in the 4th quarter worth about $1,205,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of iQIYI by 4.4% in the 1st quarter. Bank of New York Mellon Corp now owns 534,118 shares of the company’s stock worth $721,000 after acquiring an additional 22,662 shares during the last quarter. Institutional investors own 52.69% of the company’s stock.

About iQIYI

iQIYI, Inc is a leading online entertainment service provider headquartered in Beijing, China, offering a comprehensive portfolio of streaming video content across multiple genres. The company operates a subscription-based video-on-demand (SVOD) platform, complemented by advertising-supported content (AVOD) and pay-per-view offerings. Its digital library encompasses original series, feature films, variety shows, animation and documentaries, catering to diverse demographic segments and viewer preferences.

Originally launched by Baidu in 2010 as an online video site, iQIYI was formally rebranded in early 2012 and has since expanded its footprint beyond China’s domestic market.