IQIYI Inc (NASDAQ:IQ) was up 6.7% during trading on Wednesday . The company traded as high as $20.64 and last traded at $20.36. Approximately 6,327,779 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 15,485,188 shares. The stock had previously closed at $19.09.
A number of equities research analysts have commented on IQ shares. Credit Suisse Group lowered IQIYI from an “outperform” rating to a “neutral” rating in a research report on Wednesday, August 1st. Bank of America upped their price target on IQIYI from $35.50 to $41.00 and gave the company a “neutral” rating in a research report on Wednesday, August 1st. Zacks Investment Research lowered IQIYI from a “hold” rating to a “sell” rating in a research report on Thursday, November 1st. CLSA started coverage on IQIYI in a research report on Tuesday, September 4th. They issued a “buy” rating on the stock. Finally, Jefferies Financial Group started coverage on IQIYI in a research report on Monday, October 8th. They issued a “buy” rating and a $33.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $30.60.
The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.01.
Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in IQIYI during the 1st quarter worth approximately $1,708,000. Bank of Montreal Can acquired a new position in IQIYI during the 2nd quarter worth approximately $4,897,000. World Asset Management Inc acquired a new position in IQIYI during the 2nd quarter worth approximately $292,000. Creative Planning acquired a new position in IQIYI during the 2nd quarter worth approximately $789,000. Finally, Janney Montgomery Scott LLC acquired a new position in IQIYI during the 2nd quarter worth approximately $246,000. Institutional investors own 6.82% of the company’s stock.
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IQIYI Company Profile (NASDAQ:IQ)
iQIYI, Inc, together with its subsidiaries, provides online entertainment services under the iQIYI brand name in China. It operates a platform that provides a collection of Internet video content, including professionally-produced content licensed from professional content providers and self-produced content.
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