iQIYI (NASDAQ:IQ) Upgraded by Hsbc Global Res to Hold Rating

iQIYI (NASDAQ:IQ - Get Free Report) was upgraded by investment analysts at Hsbc Global Res from a "moderate sell" rating to a "hold" rating in a research note issued to investors on Thursday,Zacks.com reports.

IQ has been the topic of several other research reports. OTR Global reaffirmed a "negative" rating on shares of iQIYI in a research note on Wednesday, January 8th. Citigroup dropped their target price on iQIYI from $3.00 to $2.80 and set a "buy" rating on the stock in a research report on Thursday. JPMorgan Chase & Co. reduced their target price on shares of iQIYI from $2.50 to $1.80 and set a "neutral" rating for the company in a research note on Friday, November 22nd. Benchmark restated a "hold" rating on shares of iQIYI in a report on Friday, November 22nd. Finally, HSBC upgraded shares of iQIYI from a "reduce" rating to a "hold" rating and set a $2.15 price objective for the company in a report on Thursday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $2.91.

iQIYI Price Performance

Shares of NASDAQ:IQ traded up $0.07 on Thursday, reaching $1.94. 29,442,138 shares of the company traded hands, compared to its average volume of 12,821,399. The stock has a market capitalization of $1.86 billion, a PE ratio of 9.70, a P/E/G ratio of 1.99 and a beta of 0.02. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.45 and a quick ratio of 0.45. The company's 50 day moving average is $2.10 and its 200-day moving average is $2.56. iQIYI has a fifty-two week low of $1.82 and a fifty-two week high of $5.80.

Institutional Trading of iQIYI

Several institutional investors have recently made changes to their positions in the business. Ballentine Partners LLC acquired a new position in shares of iQIYI in the 4th quarter worth approximately $47,000. Principal Financial Group Inc. grew its holdings in shares of iQIYI by 181.1% during the third quarter. Principal Financial Group Inc. now owns 101,500 shares of the company's stock worth $290,000 after purchasing an additional 65,396 shares during the last quarter. Garden State Investment Advisory Services LLC acquired a new stake in shares of iQIYI in the third quarter valued at $835,000. Franklin Resources Inc. increased its position in iQIYI by 16.0% in the 3rd quarter. Franklin Resources Inc. now owns 173,386 shares of the company's stock valued at $496,000 after acquiring an additional 23,926 shares in the last quarter. Finally, Tidal Investments LLC bought a new position in iQIYI in the 3rd quarter worth approximately $164,000. 52.69% of the stock is currently owned by institutional investors and hedge funds.

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.