iQIYI (NASDAQ:IQ) Reaches New 12-Month Low – Time to Sell?

iQIYI, Inc. (NASDAQ:IQ) reached a new 52-week low on Friday . The stock traded as low as $1.76 and last traded at $1.79, with a volume of 58316186 shares traded. The stock had previously closed at $2.09.

Wall Street Analyst Weigh In

Several research firms recently weighed in on IQ. HSBC upgraded shares of iQIYI from a “reduce” rating to a “hold” rating and set a $2.15 price target on the stock in a report on Thursday, January 16th. OTR Global reiterated a “negative” rating on shares of iQIYI in a report on Wednesday, January 8th. Benchmark restated a “hold” rating on shares of iQIYI in a research report on Wednesday, February 19th. Hsbc Global Res upgraded shares of iQIYI from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 16th. Finally, Citigroup cut their price objective on shares of iQIYI from $3.00 to $2.80 and set a “buy” rating on the stock in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, iQIYI currently has a consensus rating of “Hold” and a consensus price target of $2.91.

iQIYI Price Performance

The firm has a fifty day moving average of $2.27 and a 200 day moving average of $2.28. The company has a market capitalization of $1.74 billion, a P/E ratio of 18.10, a P/E/G ratio of 4.13 and a beta of -0.18. The company has a current ratio of 0.44, a quick ratio of 0.45 and a debt-to-equity ratio of 0.70.

iQIYI (NASDAQ:IQ) last issued its earnings results on Tuesday, February 18th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.01. The company had revenue of $919.56 million for the quarter, compared to analysts’ expectations of $6.62 billion. iQIYI had a net margin of 2.62% and a return on equity of 7.62%. On average, equities research analysts anticipate that iQIYI, Inc. will post 0.04 EPS for the current year.

Hedge Funds Weigh In On iQIYI

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Robeco Institutional Asset Management B.V. lifted its position in iQIYI by 4.8% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 24,357,654 shares of the company’s stock valued at $48,959,000 after purchasing an additional 1,114,390 shares in the last quarter. Krane Funds Advisors LLC boosted its holdings in shares of iQIYI by 82.1% in the 4th quarter. Krane Funds Advisors LLC now owns 21,763,769 shares of the company’s stock worth $43,745,000 after purchasing an additional 9,809,187 shares during the period. Vanguard Group Inc. increased its position in shares of iQIYI by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 18,293,085 shares of the company’s stock valued at $36,769,000 after purchasing an additional 502,154 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in iQIYI by 41.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 11,011,033 shares of the company’s stock valued at $22,135,000 after buying an additional 3,235,223 shares during the period. Finally, Barclays PLC raised its stake in shares of iQIYI by 78.2% in the fourth quarter. Barclays PLC now owns 3,745,666 shares of the company’s stock valued at $7,529,000 after acquiring an additional 1,643,387 shares during the period. 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.