IQIYI Inc (NASDAQ:IQ) gapped down before the market opened on Monday . The stock had previously closed at $25.80, but opened at $25.02. IQIYI shares last traded at $24.02, with a volume of 12982737 shares traded.
A number of equities research analysts recently weighed in on IQ shares. OTR Global lowered IQIYI to a “positive” rating in a research report on Monday, January 14th. China Renaissance Securities set a $28.00 price objective on IQIYI and gave the stock a “buy” rating in a research report on Thursday, January 17th. HSBC started coverage on IQIYI in a research report on Wednesday, December 12th. They set a “hold” rating and a $22.00 price objective on the stock. New Street Research upgraded IQIYI from a “neutral” rating to a “buy” rating in a research report on Friday, February 22nd. Finally, ValuEngine upgraded IQIYI from a “hold” rating to a “buy” rating in a research report on Friday, March 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $29.00.
The stock has a market capitalization of $18.11 billion and a price-to-earnings ratio of -9.72. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.30.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AlphaOne Investment Services LLC bought a new stake in shares of IQIYI in the 4th quarter valued at about $25,000. Advisory Services Network LLC boosted its position in shares of IQIYI by 46.9% during the 4th quarter. Advisory Services Network LLC now owns 3,400 shares of the company’s stock valued at $51,000 after purchasing an additional 1,085 shares in the last quarter. Resources Investment Advisors Inc. boosted its position in shares of IQIYI by 945.6% during the 4th quarter. Resources Investment Advisors Inc. now owns 5,385 shares of the company’s stock valued at $80,000 after purchasing an additional 4,870 shares in the last quarter. North Star Investment Management Corp. bought a new stake in shares of IQIYI during the 4th quarter valued at about $86,000. Finally, Westside Investment Management Inc. boosted its position in shares of IQIYI by 62.4% during the 4th quarter. Westside Investment Management Inc. now owns 7,940 shares of the company’s stock valued at $119,000 after purchasing an additional 3,050 shares in the last quarter. Hedge funds and other institutional investors own 16.24% of the company’s stock.
About IQIYI (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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