iQIYI (NASDAQ:IQ) Trading Up 6.2% – Still a Buy?

Shares of iQIYI, Inc. (NASDAQ:IQ) rose 6.2% during mid-day trading on Thursday . The company traded as high as $2.34 and last traded at $2.31. Approximately 4,434,396 shares traded hands during trading, a decline of 80% from the average daily volume of 22,052,561 shares. The stock had previously closed at $2.17.

Analyst Upgrades and Downgrades

IQ has been the topic of a number of research reports. JPMorgan Chase & Co. cut their price target on iQIYI from $2.50 to $1.80 and set a “neutral” rating on the stock in a report on Friday, November 22nd. Hsbc Global Res upgraded iQIYI from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 16th. Benchmark reaffirmed a “hold” rating on shares of iQIYI in a research note on Friday, January 24th. OTR Global reissued a “negative” rating on shares of iQIYI in a research report on Wednesday, January 8th. Finally, Citigroup reduced their target price on shares of iQIYI from $3.00 to $2.80 and set a “buy” rating for the company in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $2.91.

iQIYI Trading Up 2.1 %

The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.45 and a current ratio of 0.45. The firm has a fifty day moving average price of $2.10 and a 200 day moving average price of $2.40. The company has a market cap of $2.28 billion, a price-to-earnings ratio of 11.90, a P/E/G ratio of 3.76 and a beta of 0.03.

iQIYI (NASDAQ:IQ) last posted its quarterly earnings results on Thursday, November 21st. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.02. iQIYI had a net margin of 4.69% and a return on equity of 13.26%. During the same quarter last year, the company earned $0.07 EPS. As a group, equities analysts predict that iQIYI, Inc. will post 0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On iQIYI

A number of hedge funds and other institutional investors have recently bought and sold shares of IQ. Creative Planning boosted its position in iQIYI by 31.5% during the third quarter. Creative Planning now owns 108,280 shares of the company’s stock worth $310,000 after purchasing an additional 25,961 shares during the period. Vontobel Holding Ltd. boosted its holdings in shares of iQIYI by 404.2% during the 3rd quarter. Vontobel Holding Ltd. now owns 190,129 shares of the company’s stock worth $544,000 after buying an additional 152,418 shares during the period. Ground Swell Capital LLC bought a new stake in shares of iQIYI during the 3rd quarter worth about $32,000. Principal Financial Group Inc. grew its stake in iQIYI by 181.1% in the 3rd quarter. Principal Financial Group Inc. now owns 101,500 shares of the company’s stock valued at $290,000 after buying an additional 65,396 shares during the last quarter. Finally, GSA Capital Partners LLP raised its holdings in iQIYI by 127.2% in the 3rd quarter. GSA Capital Partners LLP now owns 66,789 shares of the company’s stock valued at $191,000 after acquiring an additional 37,396 shares during the period. 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.