iQIYI (NASDAQ:IQ) Shares Up 6.3%

iQIYI, Inc. (NASDAQ:IQ)’s share price traded up 6.3% during trading on Tuesday . The company traded as high as $2.10 and last traded at $2.10. 1,599,376 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 9,242,884 shares. The stock had previously closed at $1.97.

Wall Street Analysts Forecast Growth

IQ has been the subject of several analyst reports. HSBC cut shares of iQIYI from a “hold” rating to a “reduce” rating and dropped their price target for the company from $4.70 to $3.00 in a research report on Tuesday, July 23rd. Benchmark downgraded iQIYI from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. The Goldman Sachs Group lowered iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 price objective on the stock. in a research report on Tuesday, August 27th. Nomura Securities upgraded iQIYI to a “hold” rating in a report on Monday, August 26th. Finally, Hsbc Global Res cut shares of iQIYI from a “hold” rating to a “moderate sell” rating in a report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $3.45.

iQIYI Stock Up 5.3 %

The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.53 and a current ratio of 0.53. The stock’s 50-day moving average price is $2.91 and its two-hundred day moving average price is $3.84. The stock has a market capitalization of $1.99 billion, a PE ratio of 7.48, a P/E/G ratio of 0.46 and a beta of 0.05.

iQIYI (NASDAQ:IQ) last announced its earnings results on Thursday, August 22nd. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.05). The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.02 billion. iQIYI had a net margin of 5.37% and a return on equity of 14.57%. During the same period in the prior year, the business posted $0.05 EPS. As a group, analysts expect that iQIYI, Inc. will post 0.16 EPS for the current fiscal year.

Hedge Funds Weigh In On iQIYI

A number of hedge funds have recently bought and sold shares of the business. Jump Financial LLC purchased a new stake in iQIYI during the fourth quarter valued at approximately $114,000. Dimensional Fund Advisors LP raised its holdings in iQIYI by 28.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,370,494 shares of the company’s stock worth $21,320,000 after purchasing an additional 966,688 shares during the period. Panagora Asset Management Inc. lifted its position in iQIYI by 47.9% during the fourth quarter. Panagora Asset Management Inc. now owns 451,605 shares of the company’s stock valued at $2,204,000 after purchasing an additional 146,327 shares in the last quarter. Norges Bank purchased a new position in iQIYI during the fourth quarter valued at $49,853,000. Finally, Aigen Investment Management LP bought a new stake in iQIYI during the fourth quarter valued at about $150,000. Hedge funds and other institutional investors own 52.69% of the company’s stock.

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.