iQIYI's (IQ) Negative Rating Reaffirmed at OTR Global

OTR Global reissued their negative rating on shares of iQIYI (NASDAQ:IQ - Free Report) in a research report released on Wednesday morning,Benzinga reports.

Several other research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. decreased their target price on shares of iQIYI from $2.50 to $1.80 and set a "neutral" rating for the company in a report on Friday, November 22nd. Benchmark reaffirmed a "hold" rating on shares of iQIYI in a research report on Friday, November 22nd. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat.com, iQIYI has a consensus rating of "Hold" and an average price target of $3.15.

iQIYI Price Performance

IQ stock remained flat at $2.02 during midday trading on Wednesday. The company had a trading volume of 13,792,172 shares, compared to its average volume of 15,157,335. The stock's 50-day moving average price is $2.19 and its 200-day moving average price is $2.65. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.65. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of 10.10, a price-to-earnings-growth ratio of 0.58 and a beta of 0.02. iQIYI has a 12 month low of $1.89 and a 12 month high of $5.80.

Institutional Investors Weigh In On iQIYI

Several institutional investors and hedge funds have recently modified their holdings of IQ. Skandinaviska Enskilda Banken AB publ bought a new position in iQIYI during the second quarter valued at approximately $31,000. Ground Swell Capital LLC purchased a new stake in shares of iQIYI during the 3rd quarter worth approximately $32,000. Flow Traders U.S. LLC bought a new position in shares of iQIYI during the 3rd quarter valued at approximately $32,000. Seven Eight Capital LP purchased a new position in shares of iQIYI in the second quarter valued at $42,000. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in iQIYI in the second quarter worth $46,000. Institutional investors own 52.69% of the company's stock.

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.