iQIYI (NASDAQ:IQ) Stock Price Down 6.9% – Should You Sell?

iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) fell 6.9% during trading on Friday . The company traded as low as $1.17 and last traded at $1.1550. Approximately 1,946,656 shares were traded during mid-day trading, a decline of 78% from the average session volume of 8,980,343 shares. The stock had previously closed at $1.24.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Benchmark reaffirmed a “hold” rating on shares of iQIYI in a research note on Tuesday, May 19th. Zacks Research lowered shares of iQIYI from a “hold” rating to a “strong sell” rating in a research report on Wednesday, June 3rd. Wall Street Zen cut shares of iQIYI from a “hold” rating to a “sell” rating in a research note on Sunday, April 26th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of iQIYI in a report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, iQIYI presently has an average rating of “Hold” and an average price target of $2.55.

iQIYI Price Performance

The stock has a 50 day moving average of $1.08 and a two-hundred day moving average of $1.43. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.45 and a current ratio of 0.45. The firm has a market capitalization of $1.12 billion, a P/E ratio of -11.65 and a beta of 0.19.

Institutional Trading of iQIYI

Several large investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio grew its stake in iQIYI by 2.5% in the 1st quarter. Public Employees Retirement System of Ohio now owns 366,300 shares of the company’s stock valued at $495,000 after buying an additional 8,900 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of iQIYI by 4.4% in the first quarter. Bank of New York Mellon Corp now owns 534,118 shares of the company’s stock worth $721,000 after purchasing an additional 22,662 shares during the period. Marshall Wace LLP lifted its position in shares of iQIYI by 1,423.3% during the 4th quarter. Marshall Wace LLP now owns 2,811,044 shares of the company’s stock worth $5,397,000 after purchasing an additional 2,626,502 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in iQIYI during the 4th quarter valued at approximately $8,488,000. Finally, Parallel Advisors LLC increased its position in iQIYI by 20.8% in the 4th quarter. Parallel Advisors LLC now owns 29,472 shares of the company’s stock worth $57,000 after buying an additional 5,077 shares during the period. 52.69% of the stock is owned by institutional investors.

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.