iQIYI (NASDAQ:IQ) Reaches New 52-Week Low – Here’s Why

iQIYI, Inc. (NASDAQ:IQ)’s share price reached a new 52-week low on Friday . The company traded as low as $1.88 and last traded at $1.89, with a volume of 11823122 shares changing hands. The stock had previously closed at $2.02.

Analyst Ratings Changes

Several equities research analysts recently issued reports on IQ shares. JPMorgan Chase & Co. decreased their price target on iQIYI from $2.50 to $1.80 and set a “neutral” rating for the company in a report on Friday, November 22nd. OTR Global restated a “negative” rating on shares of iQIYI in a research note on Wednesday. Finally, Benchmark reaffirmed a “hold” rating on shares of iQIYI in a report on Friday, November 22nd. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $3.15.

iQIYI Stock Down 5.9 %

The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.65. The stock’s fifty day moving average is $2.16 and its 200 day moving average is $2.62. The company has a market capitalization of $1.82 billion, a P/E ratio of 9.50, a price-to-earnings-growth ratio of 0.58 and a beta of 0.02.

Hedge Funds Weigh In On iQIYI

Institutional investors have recently bought and sold shares of the stock. Skandinaviska Enskilda Banken AB publ purchased a new position in iQIYI during the second quarter valued at $31,000. Ground Swell Capital LLC purchased a new position in shares of iQIYI in the third quarter worth $32,000. Flow Traders U.S. LLC purchased a new position in shares of iQIYI in the third quarter worth $32,000. Seven Eight Capital LP bought a new position in iQIYI during the 2nd quarter valued at about $42,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in iQIYI during the second quarter valued at approximately $46,000. 52.69% of the stock is owned by institutional investors.

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.