iQIYI (NASDAQ:IQ) Hits New 1-Year Low – What’s Next?

iQIYI, Inc. Sponsored ADR (NASDAQ:IQ)’s stock price reached a new 52-week low on Thursday . The stock traded as low as $0.9419 and last traded at $0.9470, with a volume of 7996580 shares trading hands. The stock had previously closed at $0.9828.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. JPMorgan Chase & Co. decreased their price objective on iQIYI from $2.20 to $1.20 and set a “neutral” rating on the stock in a report on Thursday, August 20th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of iQIYI in a research note on Wednesday, June 24th. Wall Street Zen raised iQIYI from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 22nd. The Goldman Sachs Group reiterated a “neutral” rating and set a $1.40 price target on shares of iQIYI in a report on Thursday, August 20th. Finally, Benchmark restated a “hold” rating on shares of iQIYI in a report on Wednesday, August 19th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $1.73.

iQIYI Price Performance

The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.81. The company’s fifty day moving average is $1.16 and its two-hundred day moving average is $1.27. The stock has a market cap of $911.84 million, a price-to-earnings ratio of -7.89 and a beta of 0.19.

Hedge Funds Weigh In On iQIYI

Several hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio purchased a new stake in iQIYI during the second quarter worth about $580,000. Triata Capital Ltd purchased a new stake in iQIYI during the 2nd quarter worth approximately $1,152,419,000. Bank of New York Mellon Corp lifted its holdings in 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 buying an additional 22,662 shares in the last quarter. Marshall Wace LLP boosted its position in iQIYI by 1,423.3% in the 4th quarter. Marshall Wace LLP now owns 2,811,044 shares of the company’s stock valued at $5,397,000 after buying an additional 2,626,502 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of iQIYI in the fourth quarter worth $8,488,000. Institutional investors and hedge funds 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.