iQIYI (NASDAQ:IQ) Trading Up 7.9% – Here’s What Happened

by · The Markets Daily

iQIYI, Inc. (NASDAQ:IQ – Get Free Report)’s stock price was up 7.9% on Tuesday . The stock traded as high as $2.61 and last traded at $2.60. Approximately 5,608,297 shares changed hands during trading, a decline of 51% from the average daily volume of 11,383,493 shares. The stock had previously closed at $2.41.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on IQ shares. Nomura Securities upgraded iQIYI to a “hold” rating in a report on Monday, August 26th. Benchmark lowered shares of iQIYI from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Hsbc Global Res downgraded shares of iQIYI from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. decreased their price objective on shares of iQIYI from $5.00 to $3.00 and set a “neutral” rating for the company in a research report on Tuesday, July 23rd. Finally, The Goldman Sachs Group lowered iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 target price on the stock. in a research report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $3.45.

Get Our Latest Stock Analysis on iQIYI

iQIYI Stock Performance

The company has a market capitalization of $2.43 billion, a price-to-earnings ratio of 9.04, a price-to-earnings-growth ratio of 0.70 and a beta of 0.07. The company’s fifty day simple moving average is $2.47 and its two-hundred day simple moving average is $3.56. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.53 and a current ratio of 0.53.

iQIYI (NASDAQ:IQ – Get Free Report) last announced its quarterly earnings data on Thursday, August 22nd. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.05). iQIYI had a net margin of 5.37% and a return on equity of 14.57%. The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the prior year, the firm earned $0.05 earnings per share. Equities research analysts predict that iQIYI, Inc. will post 0.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in iQIYI by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 17,756,701 shares of the company’s stock worth $86,653,000 after buying an additional 170,227 shares during the last quarter. Genesis Investment Management LLP grew its position in shares of iQIYI by 112.1% during the third quarter. Genesis Investment Management LLP now owns 16,582,183 shares of the company’s stock worth $47,425,000 after acquiring an additional 8,765,711 shares during the last quarter. Federated Hermes Inc. increased its holdings in shares of iQIYI by 18.9% in the 2nd quarter. Federated Hermes Inc. now owns 16,057,035 shares of the company’s stock worth $58,929,000 after acquiring an additional 2,549,287 shares during the period. Maple Rock Capital Partners Inc. lifted its position in iQIYI by 65.4% in the 1st quarter. Maple Rock Capital Partners Inc. now owns 10,320,000 shares of the company’s stock valued at $43,654,000 after purchasing an additional 4,080,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in iQIYI by 13.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,846,420 shares of the company’s stock valued at $21,443,000 after purchasing an additional 694,349 shares during the last quarter. 52.69% of the stock is currently owned by institutional investors.

About iQIYI

(Get Free Report)

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.

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