IQIYI (NASDAQ:IQ) Stock Price Down 8.5%

IQIYI Inc (NASDAQ:IQ) shares traded down 8.5% on Friday . The stock traded as low as $21.51 and last traded at $21.89, 15,717,332 shares changed hands during mid-day trading. An increase of 78% from the average session volume of 8,852,721 shares. The stock had previously closed at $23.93.

Several research analysts have recently weighed in on IQ shares. UBS Group upgraded shares of IQIYI from a “neutral” rating to a “buy” rating in a research note on Monday, November 11th. CLSA lowered IQIYI from an “outperform” rating to an “underperform” rating in a research note on Thursday, November 7th. Morgan Stanley began coverage on IQIYI in a report on Monday, December 2nd. They issued an “equal weight” rating and a $20.00 target price on the stock. HSBC upgraded IQIYI from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a research report on Tuesday, January 21st. Finally, 86 Research lowered IQIYI from a “hold” rating to a “sell” rating in a report on Monday, November 11th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $21.83.

The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.08. The firm has a market cap of $17.35 billion, a PE ratio of -9.69 and a beta of 2.93. The firm’s fifty day simple moving average is $22.05 and its two-hundred day simple moving average is $18.97.

IQIYI (NASDAQ:IQ) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($5.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.74) by ($4.30). The firm had revenue of $7.40 billion during the quarter, compared to analysts’ expectations of $7.23 billion. IQIYI had a negative return on equity of 72.51% and a negative net margin of 39.47%. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period last year, the company earned ($0.62) earnings per share. As a group, analysts anticipate that IQIYI Inc will post -2.06 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of IQ. Advantage Investment Management LLC lifted its position in shares of IQIYI by 50.7% in the third quarter. Advantage Investment Management LLC now owns 2,914 shares of the company’s stock valued at $47,000 after acquiring an additional 980 shares in the last quarter. Intercontinental Wealth Advisors LLC grew its position in shares of IQIYI by 80.2% during the third quarter. Intercontinental Wealth Advisors LLC now owns 3,010 shares of the company’s stock worth $49,000 after purchasing an additional 1,340 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of IQIYI by 1,344.3% during the third quarter. Tower Research Capital LLC TRC now owns 3,293 shares of the company’s stock worth $53,000 after purchasing an additional 3,065 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in IQIYI during the 2nd quarter valued at approximately $77,000. Finally, Steward Partners Investment Advisory LLC raised its stake in IQIYI by 13.4% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 5,475 shares of the company’s stock valued at $88,000 after purchasing an additional 645 shares during the period. 24.33% of the stock is currently owned by institutional investors and hedge funds.

IQIYI Company Profile (NASDAQ:IQ)

iQIYI, Inc, together with its subsidiaries, provides online entertainment services under the iQIYI brand 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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