iQIYI (NASDAQ:IQ) Trading Up 7% – Still a Buy?

iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) shares were up 7% during trading on Wednesday . The company traded as high as $1.06 and last traded at $1.0650. Approximately 3,076,563 shares traded hands during trading, a decline of 66% from the average session volume of 9,106,347 shares. The stock had previously closed at $0.9954.

Analyst Upgrades and Downgrades

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

iQIYI Price Performance

The stock has a market capitalization of $1.03 billion, a PE ratio of -10.65 and a beta of 0.19. The business’s 50-day moving average price is $1.09 and its 200 day moving average price is $1.47. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.45 and a current ratio of 0.45.

Institutional Trading of iQIYI

Several institutional investors and hedge funds have recently modified their holdings of the business. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of iQIYI during the 4th quarter valued at about $8,488,000. Marshall Wace LLP increased 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 buying an additional 2,626,502 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of iQIYI by 393.4% during 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 valued at $4,864,000 after buying an additional 1,716,011 shares in the last quarter. Catalyst Funds Management Pty Ltd bought a new stake in shares of iQIYI during the 4th quarter worth $1,205,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of iQIYI by 4.4% during 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. Hedge funds and other institutional investors own 52.69% of the company’s stock.

iQIYI Company Profile

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.