iQIYI (NASDAQ:IQ) Trading 4.3% Higher – Here’s Why

iQIYI, Inc. (NASDAQ:IQ)’s stock price rose 4.3% on Tuesday . The stock traded as high as $2.19 and last traded at $2.18. Approximately 6,310,278 shares changed hands during trading, a decline of 51% from the average daily volume of 12,798,565 shares. The stock had previously closed at $2.09.

Analyst Ratings Changes

IQ has been the topic of a number of recent analyst reports. The Goldman Sachs Group downgraded shares of iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 target price on the stock. in a research report on Tuesday, August 27th. Benchmark restated a “hold” rating on shares of iQIYI in a research report on Friday, November 22nd. Nomura Securities upgraded iQIYI to a “hold” rating in a report on Monday, August 26th. Finally, JPMorgan Chase & Co. cut their price target on iQIYI from $2.50 to $1.80 and set a “neutral” rating for the company in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $3.15.

iQIYI Price Performance

The firm has a market capitalization of $1.95 billion, a price-to-earnings ratio of 10.15, a PEG ratio of 0.60 and a beta of 0.02. 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 business has a 50-day moving average price of $2.33 and a two-hundred day moving average price of $2.87.

Institutional Investors Weigh In On iQIYI

A number of hedge funds have recently made changes to their positions in IQ. BNP Paribas Financial Markets increased its position in iQIYI by 77.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,871,931 shares of the company’s stock valued at $5,354,000 after acquiring an additional 815,226 shares during the period. Garden State Investment Advisory Services LLC bought a new stake in shares of iQIYI during the third quarter valued at about $835,000. Dimensional Fund Advisors LP lifted its holdings in iQIYI by 13.5% in the second quarter. Dimensional Fund Advisors LP now owns 5,846,420 shares of the company’s stock worth $21,443,000 after purchasing an additional 694,349 shares during the period. Genesis Investment Management LLP grew its position in iQIYI by 112.1% in the 3rd quarter. Genesis Investment Management LLP now owns 16,582,183 shares of the company’s stock valued at $47,425,000 after buying an additional 8,765,711 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in iQIYI by 8,351.7% during the 3rd quarter. SG Americas Securities LLC now owns 1,005,249 shares of the company’s stock valued at $2,875,000 after buying an additional 993,355 shares during the period. Institutional investors own 52.69% of the company’s stock.

iQIYI Company Profile

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.