Analysts Set iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) Price Target at $1.73

iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) has been assigned an average recommendation of “Hold” from the six brokerages that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $1.73.

IQ has been the subject of a number of recent analyst reports. Benchmark reaffirmed a “hold” rating on shares of iQIYI in a research report on Wednesday, August 19th. Zacks Research raised shares of iQIYI from a “strong sell” rating to a “hold” rating in a research report on Monday, July 20th. Wall Street Zen upgraded iQIYI from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 22nd. JPMorgan Chase & Co. reduced their target price on iQIYI from $2.20 to $1.20 and set a “neutral” rating for the company in a report on Thursday, August 20th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of iQIYI in a report on Wednesday, June 24th.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC increased its position in shares of iQIYI by 20.8% during the 4th quarter. Parallel Advisors LLC now owns 29,472 shares of the company’s stock valued at $57,000 after purchasing an additional 5,077 shares during the last quarter. Tidal Investments LLC purchased a new position in shares of iQIYI in the 2nd quarter worth about $58,000. Public Employees Retirement System of Ohio boosted its holdings in shares of iQIYI by 2.5% in the 1st quarter. Public Employees Retirement System of Ohio now owns 366,300 shares of the company’s stock worth $495,000 after buying an additional 8,900 shares during the last quarter. Bank of New York Mellon Corp grew its position in iQIYI by 4.4% during the first quarter. Bank of New York Mellon Corp now owns 534,118 shares of the company’s stock valued at $721,000 after buying an additional 22,662 shares during the period. Finally, Squarepoint Ops LLC grew its position in iQIYI by 831.3% during the second quarter. Squarepoint Ops LLC now owns 594,856 shares of the company’s stock valued at $619,000 after buying an additional 530,983 shares during the period. Institutional investors own 52.69% of the company’s stock.

iQIYI Stock Performance

NASDAQ IQ opened at $0.95 on Wednesday. iQIYI has a 1 year low of $0.86 and a 1 year high of $2.73. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.45 and a quick ratio of 0.45. The firm has a market cap of $918.98 million, a price-to-earnings ratio of -7.94 and a beta of 0.19. The company has a fifty day moving average price of $1.14 and a 200-day moving average price of $1.19.

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.