Brokerages Set iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) Target Price at $2.55

Shares of iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) have been given an average rating of “Hold” by the five ratings firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $2.5467.

IQ has been the subject of a number of research reports. Zacks Research upgraded shares of iQIYI from a “strong sell” rating to a “hold” rating in a report on Monday. Wall Street Zen lowered shares of iQIYI from a “hold” rating to a “sell” rating in a report on Sunday, April 26th. Benchmark reissued a “hold” rating on shares of iQIYI in a research report on Tuesday, May 19th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of iQIYI in a research note on Wednesday, June 24th.

iQIYI Stock Down 2.4%

Shares of NASDAQ:IQ opened at $1.21 on Tuesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.45 and a quick ratio of 0.45. The firm has a market capitalization of $1.17 billion, a PE ratio of -12.10 and a beta of 0.19. The firm’s 50-day moving average is $1.09 and its two-hundred day moving average is $1.40. iQIYI has a 1 year low of $0.95 and a 1 year high of $2.84.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Catalyst Funds Management Pty Ltd acquired a new stake in iQIYI in the 4th quarter valued at about $1,205,000. Marshall Wace LLP grew its position in shares of iQIYI by 1,423.3% during the fourth quarter. Marshall Wace LLP now owns 2,811,044 shares of the company’s stock worth $5,397,000 after buying an additional 2,626,502 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of iQIYI during the fourth quarter worth about $8,488,000. Bank of New York Mellon Corp increased its stake in shares of iQIYI by 4.4% during the first quarter. Bank of New York Mellon Corp now owns 534,118 shares of the company’s stock worth $721,000 after buying an additional 22,662 shares during the period. Finally, Parallel Advisors LLC increased its stake in shares of iQIYI by 20.8% during the fourth 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 and hedge funds.

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.